The stock market lost some steam late in the afternoon on Wednesday after the Federal Reserve’s Beige Book showcased some pessimism seeping into the economy.
The Dow Jones Industrial Average was down 92 points, or 0.2%. The S&P 500 was up slightly. The Nasdaq Composite rose 0.3%.
The Dow was poised to close right where it ended 2024 and rise for a fifth day in a row until around 2 p.m. ET when most of the market began to pull back in the wake of the Fed’s Beige Book.