KSU - Stocks Yearn for Direction Indexes All in Red

The S&P 500 was steady on Wednesday, with the average still flat for the month of September, as investors reassess the economic growth outlook following a smooth ride in the market so far this year.

The Dow Jones Industrials slid 45.36 points to 35,054.64

The S&P 500 retreated 8.52 points to 4,511.51

The NASDAQ Composite plummeted from Tuesday's all-time high, by 78.96 points to 15,295.37.

Many investors are bracing for volatility in September, one of the seasonally weakest months of the year. Price swings could make a comeback, especially with the S&P 500 up more than 20% this year without a single 5% pullback.

One of the catalysts for a selloff could be the Federal Reserve and the potential for it to pull back an unprecedented monetary stimulus to support the economy throughout the pandemic. Fed Chairman Jerome Powell has indicated that the central bank is likely to begin withdrawing some of its easy-money policies before year-end, though he still sees interest rate hikes in the distance.

On Wednesday, the Labor Department released the Job Openings and Labor Turnover Survey, which showed job openings rose to a record 10.9 million in July.

Meanwhile, the Federal Reserve is set to publish its periodic “Beige Book” survey of activity across its 12 districts.

Prices for 10-Year Treasurys gained, lowering yields to 1.35% from Tuesday's 1.37%. Treasury prices and yields move in opposite directions.

Oil prices hiked 94 cents to $69.29 U.S. a barrel.

Gold prices dipped $7.10 to $1,791.40 U.S. an ounce.