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Stocks erased earlier gains to trader lower on Wednesday. This extended losses for the major indexes after a steep sell-off during Tuesday’s trading day, which pushed the S&P 500 and Dow to their lowest settlements so far of 2022.
The S&P 500 wiped out early advances to trade slightly lower. The blue-chip index had closed lower by just over 1% on Tuesday, bringing it more than 10% from its record closing high from Jan. 3 — or below the threshold to enter a correction. The Nasdaq and Dow also rose following declines a day earlier.
Hopes of a diplomatic resolution for tensions between Russia and Ukraine appeared to deteriorate this week, as President Joe Biden publicly called Russia’s move to deploy tr