NEW YORK—Stocks fell broadly on Wall Street Wednesday, erasing most of their gains for the week, as investors were discouraged to see more evidence of inflation’s impact on businesses and another gloomy outlook on the global economy.
The losses follow several bumpy days for markets, with major indexes often lurching between gains and losses by the hour. The volatility persists as investors try to determine how rising interest rates and inflation will impact the economy.
The S&P 500 index fell 44.91 points, or 1.1 percent, to 4,115.77. The benchmark index managed to hold on to a slight gain for the week. It has notched losses for eight of the last nine weeks….