US stocks shuffle lower, pulling indexes further from highs

By DAMIAN J. TROISE and STAN CHOE
AP Business Writers

NEW YORK (AP) — Stock indexes shuffled lower on Wall Street Wednesday, pulling a bit further off their record heights. The S&P 500 fell 0.3% after earlier drifting between a tiny gain and a 0.4% decline. It’s sitting just below its all-time high set a week and a half ago. The majority of stocks in the S&P 500 fell, and the smaller stocks in the Russell 2000 dropped even more. But gains for some heavyweight stocks helped soften the losses. The bond market was relatively calm following turbulent trading recently amid worries about high inflation. The yield on the 10-year Treasury fell to 1.59%.