(Image by Oleg Gamulinskiy from Pixabay)
(CNBC) -- The Dow Jones Industrial Average finished slightly lower Wednesday as the market fought to overcome Tuesday’s selloff, spurred by comments from Federal Reserve Chairman Jerome Powell hinting at higher interest rates for longer.
The Dow dipped 58.06 points, or 0.18%, to end at 32,798.40, while the S&P 500 edged 0.14% higher to settle at 3,992.01. The Nasdaq Composite rose 0.4% to finish at 11,576.00.
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Fresh job market data fueled investor concern that bigger rate increases may be ahead. Data showed that job openings fell less than expected in January, while a stronger-than-expected February private payrolls report affirmed that the economy is standing strong despite the central bank’s hiking. The findings precede Friday’s February jobs data after January’s blockbuster number.
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