[NEW YORK] Wall Street stocks fell Wednesday, continuing its run of recent weakness amid a dimming global economic outlook.The broad-based S&P 500 shed 0.7 per cent to 2,771.45, while the tech-rich Nasdaq Composite Index tumbled 0.9 per cent to end the day at 7,505.92.
"It's perfectly normal to see the market pull back, especially after such a rally," said Adam Sarhan, chief executive of 50 Park Investment, who also cited slowing growth expectations as a headwind. An exception was Johnson & Johnson, which advanced 0.2 per cent after the Food and Drug Administration late Tuesday approved esketamine nasal spray, marketed under the brand name Spravato, which is seen as a potentially revolutionary treatment for severe, treatment-resistant depression.
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