Dow drops more than 350 points as U.S. stocks end sharply lower

U.S. stocks ended sharply lower Wednesday, with all 11 of the S&P 500’s sectors falling, as higher interest rates and recession fears continued to weigh on the market as investors near the end of a bruising 2022. The Dow Jones Industrial Average
DJIA,
-1.10%
closed more than 350 points lower, falling 1.1%, while the S&P 500
SPX,
-1.20%
slid 1.2% and the technology-laden Nasdaq Composite
COMP,
-1.35%
dropped around 1.4%, according to preliminary data from FactSet. Energy was the hardest hit sector of the S&P 500 on Wednesday, down more than 2%. The S&P 500 has tumbled around 20.6% this year, FactSet data show.