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 closed more than 350 points lower, falling 1.1%, while the S&P 500 slid 1.2% and the technology-laden Nasdaq Composite 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.

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