The Dow on Wednesday ended lower for the third day in a row, ahead of an eagerly awaited inflation report, which could set the tone for the broader financial markets. The S&P 500 and the Nasdaq also finished lower, with the Nasdaq Composite booking its first loss in the past four sessions. Selling in financials
XLF,
-0.94%
amid the lowest yields for the 10-year Treasury note
TMUBMUSD10Y,
1.489%
since March, weighed on yield-sensitive bank stocks. The Dow closed about 152 points, or 0.4%, lower at 34,447, matching its longest string of losses since the period ended May 19. The S&P 500 index
SPX,
-0.18%
closed 0.2% lower at around 4,220, while the Nasdaq Composite Index
COMP,
-0.09%
finished the session around 0.1% lower at 13,912, but briefly breached a psychologically important level at 14,000 earlier in the day. Investors are awaiting inflation data due on Thursday, the consumer-price index, that could offer more clarity on the path of inflation as the economy picks up after the COVID pandemic. In corporate news, shares of Clover Health Investments Corp.
CLOV,
-23.61%
closed almost 24% lower Wednesday, after an 85% pop on Tuesday as it joined the ranks of meme stocks at the center of a speculative frenzy by individual investors. Meme stocks mostly ended lower, including AMC Entertainment Holdings, down 10.4%, while GameStop Corp.
GME,
+0.85%,
finished up less than 1%, ahead of its quarterly upate set for after Wednesday's closing bell.