US stocks continue to post declines
Nasdaq sees correction after falling more than 10% below its record closing high in November
Major US stock indexes ended lower Wednesday as investors continued to worry over pending interest rate rises, despite some strong company earnings results.
The Nasdaq recovered after falling more than 10% below its record closing high in November in a volatile trading session, ending down 166.64 points, or 1.15%, at 14,340.
A correction occurs when an index closes 10% or more below its record peak.
The Dow Jones Industrial Average meanwhile ended down 0.96% or 339.82 points at 35,028.
The S&P 500 lost 44.35 points, or 0.97%, to close at 4,532.
Treasury yields surrendered some gains, with the benchmark 10-year yield retreating after nearing 1.9% a day earlier, its highest level since January 2020.
On Wednesday, Germany, the UK and Canada posted 30-year high inflation figures.
While Asian indices also posted declines, European markets saw mixed figures.