Stocks Cascade Down Wall Of Worry -- US Commentary

(RTTNews) - U.S. stocks fell sharply Wednesday, accelerating to the downside after a relatively upbeat start to the session.

The Dow Jones Industrial Average slipped for a third day, losing 245 points, or 1%, to 24,762. The S&P 500 lost 16 points, or 0.6%, to 2,750. The Nasdaq Composite Index fell 14 points to 7,497, a decline of 0.2%.

Traders were spooked by rumors that the Federal Reserve will raise interest rates by a half-point when the central bank meets next week.Anxiety over President Trump's trade war comments also rattled markets.

In economic news, U.S. wholesale prices rose slightly in February, roughly in line with the tepid growth seen in consumer prices.

On a monthly basis, the producer price index that measures wholesale inflation was up 0.2% following January's 0.4% increase.

Retail sales were off 0.1 percent, disappointing economists looking for growth of 0.4 percent.

WalMart will expand its grocery deliveries to 100 cities.

Vera Bradley shares rallied after earnings and revenue beat consensus.

France plans legal action against Apple and Google for "unfair business practices."

Starboard directors pledge to buy $25 million of Newell Brands stock if the board is replaced.

United Airlines admitted that a steward should not have put a puppy in the overhead bin. The dog died. UAL shares fell 2.4 percent.

Walt Disney World will charge hotel guests up to $24 a night for parking. Shares were up fractionally.

Crude oil prices turned lower near $61 a barrel after the EIA reported a big jump in crude oil inventories.