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Stocks slid Tuesday as inflation and recession fears persist

A street sign is seen in front of the New York Stock Exchange in New York, Tuesday, June 14, 2022.Seth Wenig/Associated Press

Stocks slid on Wall Street Tuesday as the market remains gripped by uncertainty over pervasive inflation, rising interest rates and the potential for a recession.

The S&P 500, the Dow Jones Industrial Average and the Nasdaq fell. The Conference Board reported that consumer confidence fell in June to its lowest level in more than a year, driven by concerns over inflation including rising prices for gas and food. Energy stocks rose along with the price of crude oil. The yield on the 10-year Treasury note, which helps set mortgage rates, rose.

On Tuesday:

The S&P 500 fell 78.56 points, or 2%, to 3,821.55.

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The Dow Jones Industrial Average fell 491.27 points, or 1.6%, to 30,946.99.

The Nasdaq fell 343.01 points, or 3%, to 11,181.54.

The Russell 2000 index of smaller companies fell 32.90 points, or 1.9%, to 1,738.84.

For the week:

The S&P 500 is down 90.19 points, or 2.3%.

The Dow is down 553.69 points, or 1.8%.

The Nasdaq is down 426.08 points, or 3.7%.

The Russell 2000 is down 26.90 points, or 1.5%.

For the year:

The S&P 500 is down 944.63 points, or 19.8%.

The Dow is down 5,391.31 points, or 14.8%.

The Nasdaq is down 4,463.43 points, or 28.5%.

The Russell 2000 is down 506.47 points, or 22.6%.