S&P 500 falls 1% as investors gauge chances of economic slowdown; European markets close lower ahead of ECB decision, U.S. inflation data 
Stocks fell on Wednesday as investors monitored signs of a potential economic slowdown and kept an eye on the bond market. The Dow Jones Industrial Average shed 269.24 points, or 0.81%, to close at 32,910.90. The S&P 500 slid 1.08% to finish at 4,115.77, while Nasdaq Composite dropped 0.73% to 12,086.27. 
The U.S.-traded shares of Credit Suisse fell 1% after the bank issued a profit warning for the second quarter, citing tighter monetary policy and the war in Ukraine. Intel dropped more than 5% after management warned of weakening demand for semiconductors at an industry conference. 
Action in the bond market may have hurt investor sentiment on Wednesday, as the 10-year Treasury yield jumped back above 3%. The price of oil also rose, with U.S. benchmark West Texas Intermediate crude pushing well above $120 per barrel. 
Elsewhere, shares of Robinhood fell 3.9% after Securities and Exchange Commission Chair Gary Gensler detailed potential rule changes around trade execution, such as possibly requiring retail orders to be routed into auctions. Moderna rose nearly 2.2% after its modified Covid-19 booster shot showed a stronger response to new variants. 

The pan-European Stoxx 600 provisionally ended 0.7% lower, with insurance stocks shedding 1.6% to lead losses. Retail stocks bucked the downward trend to add 2%. 
Wizz Air shares slumped 9.3% after the Hungarian low-cost airline posted a widened pretax loss for 2022 and bleak forward guidance. 
Investors are also looking ahead to the ECB’s monetary policy announcement on Thursday, with policymakers expected to confirm intentions to raise interest rates in July. 
Source: CNBC, Investing.com