S&P 500 closes lower as cyclicals stutter; European stocks close slightly higher amid inflation fears 
The S&P 500 closed lower Wednesday, as cyclical sectors of the market slipped with financials and energy leading the broader market lower. 
The S&P 500 fell 0.26%, the Dow Jones Industrial Average slipped 0.58%, or 160 points, the Nasdaq lost 0.33%, and the Russell 2000 was down 1%. 
In the midst of the pandemic gloom, there was positive news on Covid-19 treatments. Moderna (NASDAQ:MRNA) filed its application to the Food and Drug Administration to approve its vaccine booster doses for all people aged at least 18. Its shares ended the day up more than 4%. 
Target (NYSE:TGT) fell more than 4% as better-than-expected quarterly results were offset by concerns of margins pressures ahead after chief executive Brian Cornell said the retailer was unlikely to pass rising costs onto consumers. 
Elsewhere, Visa (NYSE:V), a major Dow component, slumped nearly 5% after Amazon said it would stop accepting payments made with Visa credit cards in the UK. 
Apple was a standout performer closing up more than 2% as a reduction in lead times points to easing supply-chain issues for the tech giant. 

The pan-European Stoxx 600 provisionally closed up by 0.2%, with mining stocks gaining 1.2% while travel and leisure stocks dropped 1.6%. Euro zone inflation was confirmed at 4.1% year-on-year in October, more than double the European Central Bank’s target. 
Source: CNBC, Investing.com