The US stock markets closed lower on Thursday after the early market rally, as the Federal Reserve signaled its plans to begin raising interest rates soon to fight a spike in inflation.

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Major Wall Street indices - S&P 500, S&P 500, Nasdaq and Russell 2000 - gave up their early gains to close lower.

US stock markets closing on Wednesday

:

The S&P 500 fell 6.52 points, or 0.1%, to 4,349.93.

The Dow Jones Industrial Average fell 129.64 points, or 0.4%, to 34,168.09.

The Nasdaq rose 2.82 points, or less than 0.1%, to 13,542.12.

The Russell 2000 index of smaller companies fell 27.57 points, or 1.4%, to 1,976.46.

US stock markets for the week:

The S&P 500 is down 48.01 points, or 1.1%.

The Dow is down 97.28 points, or 0.3%.

The Nasdaq is down 226.80 points, or 1.6%.

The Russell 2000 is down 11.45 points, or 0.6%.

US stock markets for the year:

The S&P 500 is down 416.25 points, or 8.7%.

The Dow is down 2,170.21 points, or 6%.

The Nasdaq is down 2,102.85 points, or 13.4%.

The Russell 2000 is down 268.85. points, or 12%.

-With agency inputs

First Published:Jan 27, 2022 6:55 AM IST