Stocks slipped on Wednesday, with the S&P 500 posting its fifth negative day in a row, as market participants remained concerned that an economic downturn lays ahead in the near-term. The Dow Jones Industrial Average closed at a positive flatline, while the S&P 500 and Nasdaq Composite fell 0.2% and 0.5%, respectively.
Here's how the market settled on Wednesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Wall Street continued to be weighed down by a series of downbeat comments from heads of big Wall Street banks over the health of the U.S. economy, raising concerns over the long-term impact of inflation and climbing interest rates on consumers.
Goldman Sachs
"There's a very reasonable possibility that we could have a recession of some kind," Solomon said.
Separately, National Economic Council Director Brian Deese said Wednesday that the U.S. economy is slowing, but is showing "continued resilience" that will position the U.S. to become a center of "investment, productivity and innovation," over the next few years.
"We were out in (Phoenix) yesterday with a set of CEOs who all understand this, that even as we're looking at this transition and navigating through this historically unique transition, the United States looks better as a prospect to invest, and that's going to be a driver," Deese told CNBC's "Squawk Box" in an interview.
Elsewhere, Morgan Stanley
Investors are gearing up for more economic data this week ahead of the Federal Reserve's final policy meeting for the year next week. Readings include weekly jobless claims, producer price inflation and preliminary consumer sentiment data for December.
