Stocks on Wall Street end lower amid concerns of possible recession, Fed rate hike

Wall Street ended lower after another wobbly session on Tuesday, closing out a rocky month. The S&P 500 fell 0.6 percent having recouped about half of its loss from the earlier session. The index managed to eke out a tiny gain for May but only after several abrupt swings.

Last week, the S&P 500 witnessed its biggest weekly gain since late 2020, breaking a seven-week losing streak that nearly brought it into a bear market.

Trading has been turbulent in recent weeks amid worries about a possible recession, inflation and rising interest rates.