Stocks extend 2022 losses as investors brace for rate hikes

Friday, January 14, 2022, Vol. 46, No. 2
The Associated Press

Stocks continued to fall on Wall Street Wednesday as investors review the latest corporate earnings and prepare for higher interest rates.

The S&P 500 fell 1%, the Nasdaq fell 1.2% and the Dow Jones Industrial Average fell 1%. The major indexes all set new lows for the year, with technology stocks' weakness again giving direction to the broader market.

UnitedHealth Group, Bank of America and Procter & Gamble all rose after reporting encouraging financial results.

Bond yields fell.

Makers of household goods and consumer products gained ground.