Tumbling energy and financial stocks pulled down the major indexes Wednesday.
But a weak reading on inflation cushioned the losses.
The S&P 500 shed just a fifth of a percent.
Spartan Capital Securities chief market economist, Peter Cardillo, says economic growth concerns also dog investors: SOUNDBITE: SPARTAN CAPITAL SECURITIES CHIEF MARKET ECONOMIST, PETER CARDILLO, (ENGLISH) SAYING: "The big problem I think that the market is worried about is are we headed for a real slowdown in economic growth, possibly even a recession in 2020." Consumer prices edged up 0.1 percent in May.
The weak data backed the case for the Federal Reserve to cut interest rates.
That hurt interest-sensitive bank stocks like Wells Fargo and JPMorgan Chase.
President Donald Trump said on Tuesday he was holding up a trade deal with Beijing.
Chip stocks, which get a chunk of their revenue from China, fell.
Among them: Intel and Micron Technology.
Crude prices fell, dragging down Exxon Mobil, Chevron, and other energy stocks.