U.S. stocks fell across industries on Wednesday as investors worried over stock valuations, economic growth and rising interest rates. Stocks rose at the start of trading, but quickly lost their gains. A comment from Federal Reserve Chair Janet Yellen suggesting that stocks are generally overvalued added to the selling pressure.
The Dow Jones industrial average dropped 86.22 points, or 0.5 percent, to 17,841.98.
The Standard & Poor's 500 index fell 9.31 points, or 0.5 percent, to 2,080.15.
The Nasdaq composite declined 19.68 points, or 0.4 percent, to 4,919.64.
For the week:
The Dow is down 182.08 points, or 1 percent.
The S&P 500 index is down 28.14 points, or 1.3 percent.
The Nasdaq is down 85.75 points, or 1.7 percent.
For the year:
The Dow is up 18.91 points, or 0.1 percent.
The S&P 500 index is up 21.25 points, or 1 percent.
The Nasdaq is up 183.59 points, or 3.9 percent.