NEW YORK—Stocks dipped to close an up-and-down Wednesday on Wall Street following the latest update on inflation and the latest warning of a possible recession.
The S&P 500 fell 16.99, or 0.4 percent, to 4,091.95 after drifting between small gains and losses through the day. The Dow Jones Industrial Average slipped 38.29, or 0.1 percent, to 33,646.50, and the Nasdaq composite lost 102.54, or 0.9 percent, to 11,929.34.
The main focus for more than a year on Wall Street has been high inflation and how much painful medicine the Federal Reserve will have to dole out to contain it. Wednesday’s update on inflation was a mixed one, showing prices at the consumer level were 5 percent higher last month than a year earlier….