US stocks end lower midweek amid fading optimism over Russia-Ukraine talks

By Gokhan Ergocun

ANTALYA, Turkiye (AA) - Major US stock indexes ended lower Wednesday amid fading hopes about peace talks between Russia and Ukraine, with inflation worries and imminent tightening by the Federal Reserve weighing on sentiment.

Stocks had risen Tuesday after Russia said it would pull back troops from Kyiv and seek to continue talks with Ukraine, but some believe the move by Russia is merely a strategy to concentrate its military focus on other regions of the country.

US annual economic growth in the fourth quarter of 2021 was revised down to 6.9% in the Commerce Department’s third and final reading released Wednesday.

The first reading was 6.9%, while the second announced last month placed the figure at 7%.

The blue chip Dow Jones Industrial Average ended down 0.19%, or 65.38 points, at 35,228.

The S&P 500 decreased 29.15 points, or 0.63%, to close at 4,602.

The tech-heavy Nasdaq was down 177.36 points, or 1.21%, to 14,442.

While most European stock markets closed midweek with decreases, excluding the UK, most major Asian stock markets ended Wednesday with gains.

Turkiye’s benchmark stock index ended the day at 2,230.15 points, up 1.07% from the previous close.