How major US stock indexes fared Wednesday, 1/17/2024

Wall Street slipped again after a stronger-than-expected report on the U.S. economy weakened hopes that easier interest rates would arrive soon. The S&P 500 fell 0.6% Wednesday, its second straight drop. The Dow fell 0.3%, and the Nasdaq composite lost 0.6%. Rising yields in the bond market again put downward pressure on stocks. Yields climbed after a report showed sales at U.S. retailers were stronger last month than economists expected, which could keep upward pressure on inflation. That could push the Federal Reserve to wait longer than traders expect to begin cutting rates.