NEW YORK (AP) — Stocks are closing lower on Wall Street Wednesday in more choppy trading as investors were discouraged to see more evidence of inflation's impact on businesses and another gloomy outlook on the global economy.

The S&P 500 lost 1.1%, the Dow Jones Industrial Average fell 0.8% and the Nasdaq fell 0.7%. Banks and industrial stocks fell broadly, as did some big technology companies.

Intel lost 5.4%. The yield on the 10-year Treasury, which helps set interest rates on mortgages, rose to 3.02%.

It's been a bumpy week for major indexes, which have lurched between gains and losses, sometimes by the hour.