Wall Street drifts as markets worldwide pull back

On Wednesday, Wall Street exhibited a lack of clear direction, following a significant rally that had propelled it 16% higher for the year thus far.

During afternoon trading, the S&P 500 dipped by 0.2%, retracing from its highest level since April 2022.

The Dow Jones Industrial Average recorded a decline of 114 points, or 0.3%, standing at 34,304 as of 12:30 p.m. Eastern time. The Nasdaq composite also experienced a minor drop of 0.1%.

Global markets, on the other hand, faced more pronounced declines in response to a discouraging signal from China’s economy, the Associated Press reports.

READ MORE: https://apnews.com/article/stock-market-inflation-china-yellen-048be023dfe5460058d1c054981575f3

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