Weak Global Outlook Sends Stocks Down
The U.S. stock market is closing lower after the World Bank scaled back its outlook for global growth.
The Standard & Poor’s 500 index fell six points, or 0.4 percent, to close at 1,943 on Wednesday. The Dow Jones industrial average dropped 102 points, or 0.6 percent, to 16,843. The Nasdaq slipped six points, or 0.1 percent, to 4,331.
The World Bank said in a report late Tuesday that it expects global growth of 2.8 percent this year, compared with a January estimate of 3.2 percent.
The stock market remains near all-time highs after a slow and steady climb since April.
Delta dropped 3 percent, making it the second-biggest loser among S&P 500 stocks. The sharp decline came after Germany’s Lufthansa warned of smaller profits caused by weaker passenger demand.
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