Stock market today: Wall Street drifts lower after its slide from the day before
Wall Street is drifting and making smaller moves on Wednesday, a day after strong reports on the economy stirred up worries that inflation and interest rates may stay higher than expected. In the bond market, which has been the bigger focus for Wall Street recently, yields were also making more modest moves after charging higher over the last month. Reports on the economy Wednesday weren’t as strong as Tuesday’s, which raised hopes that the Federal Reserve may keep cutting short-term interest rates to support the economy and give markets a boost.