Stock Market Today: S&P 500 Extends Losing Streak

The broad market index has now closed lower for five straight sessions.

white chalk arrow going down
(Image credit: Getty Images)

Stocks bounced back and forth between positive and negative territory for most of Wednesday before ending the day with yet another loss. 

With little in the way of economic data to react to, investors continued to fret over the Federal Reserve's next steps as far as interest rates go. Also worrying Wall Street were recent comments from some of the country's top bank CEOs, which served to amplify fears of a possible recession in 2023. One of the more notable remarks came from Wells Fargo CEO Charlie Scharf. "There is a slowdown happening, there's no question about that," Scharf said at a financial conference Tuesday, adding that he expects "a fairly weak economy throughout the entire year." 

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.