Stocks fell amid fresh worries about the banking sector, although Wall Street more than halved its losses by the closing bell.
The S&P 500 closed with a decline of 0.7%. The Dow posted a slightly steeper drop, while the Nasdaq rose slightly thanks to late gains in tech shares. Treasury yields plunged following several reports on the economy that were weaker than expected.
Switzerland’s Credit Suisse sparked a broad selloff early Wednesday after its shares fell to a new low. Markets pared some of their losses as the Swiss National Bank said it could provide some assistance to Credit Suisse if needed.
The S&P 500 fell 27.36 points, or 0.7%, to 3,891.93.
The Dow Jones Industrial Average fell 280.83 points, or 0.9%, to 31,874.57.
The Nasdaq composite rose 5.90 points, or 0.1%, to 11,434.05.
The Russell 2000 index of smaller companies fell 30.95 points, or 1.7%, to 1,745.94.
For the week:
The S&P 500 is up 30.34 points, or 0.8%.
The Dow is down 35.07 points, or 0.1%.
The Nasdaq is up 295.16 points, or 2.6%.
The Russell 2000 is down 26.76 points, or 1.5%
For the year:
The S&P 500 is up 52.43 points, or 1.4%.
The Dow is down 1,272.68 points, or 3.8%.
The Nasdaq is up 967.57 points, or 9.2%.
The Russell 2000 is down 15.30 points, or 0.9%