US Stock Market: DJIA, S&P500, Nasdaq and Russell ended in red on Wednesday

Wall Street stock indexes finished largely lower Wednesday following another turbulent day of trading, as the market approaches its fourth monthly loss of the year.

After alternating between tiny gains and losses, the S&P 500 finished 0.1% down. The Dow Jones Industrial Average increased by 0.3%, while the Nasdaq Composite fell by less than 0.1%.

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Trading has been tumultuous all week, with rising concerns that the country is heading for a recession due to stubbornly high inflation and dramatically higher interest rates.

Investors bought up US government bonds, causing rates to fall. The 10-year Treasury yield, which impacts mortgage and other consumer lending rates, fell to 3.10% from 3.20% late Tuesday, a significant decrease.

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The S&P 500 slipped 2.72 points to 3,818.83. With one day left to go in June, the benchmark index is down 7.6% for the month and down 20% for the year.

The Dow rose 82.32 points to 31,029.31, while the Nasdaq dropped 3.65 points to 11,177.89.

Small-company stocks fell sharply in a signal that investors were worried about economic growth. The Russell 2000 slid 19.47 points, or 1.1%, to 1,719.37.

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The government reported that the economy shrank at a 1.6% annual pace in the first three months of the year, its third and final estimate for GDP in the first three months of 2022. That figure was in line with previous estimates, and economists expect growth to resume later this year.

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Impacts of the shift in spending are a key focus for investors as companies start to report their latest financial results. Cheerios maker General Mills climbed 6.3% for the biggest gain in the S&P 500 after reporting solid financial results and giving investors an encouraging forecast.

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Gains in health care and technology companies helped lift the market. Eli Lilly rose 1.7% and Microsoft added 1.5%.

Energy stocks fell as the price of U.S. crude oil dropped 1.8%. Exxon Mobil slid 3.7%.

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Industrial firms and retailers also kept the market’s gains in check. FedEx fell 2.6% and Target slipped 1.8%.

Bed Bath & Beyond plunged 23.6% after reporting a far bigger loss than analysts expected and replacing its CEO.

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Cruise lines were among the biggest decliners in the S&P 500. Carnival slid 14.1%, Royal Caribbean dropped 10.3% and Norwegian Cruise Line fell 9.3%.