NEW YORK, Feb. 6 (UPI) -- Recession worries coupled with inflation worries on Wall Street Wednesday driving an industrious rally back into a day of losses.
Philadelphia Federal Reserve President Charles Plosser said he would support another Federal Reserve rate cut, cautioning, however, that price stability was also an important consideration.
At the close, the Dow Jones industrial average had lost 66.41 points on the day to 12,198.72, down 0.54 percent.
The Standard & Poor's 500 lost 10.15 points Wednesday to 1,326.49, off 0.79 percent
The Nasdaq board stood at 2,278.75, down 30.82 points, off 1.33 percent.
Stocks gained on the New York Stock Exchange with 1,569 stocks up and 1,533 down on a on volume of 1.1 billion shares traded.
The 10-year note declined 13/32, yielding 3.613 percent.
The euro traded at $1.4625, compared with $1.4635 Tuesday, while the dollar traded at 106.51 yen, from 106.86 yen Tuesday.
In Tokyo, the Nikkei average, following Tuesday's tumble in U.S. markets, plunged 646.26 points to 13,099.24, down 4.7 percent.
In London, the FTSE 100 gained 7.40 points to 5,875.40, up 0.13 percent.