Stocks ended lower on Wednesday as investors considered more mixed data on the U.S. economic recovery and a resurgence in the social media-fueled “meme stocks.”

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The S&P 500 lost steam to close in the red. Earlier, the index came within points of its all-time high, with traders searching for new catalysts to send the broader market higher. The Dow fell by more than 100 points, while the Nasdaq erased earlier gains to trade lower as well. Worries over heightened inflation lingered, and concerns over supply-side shortages were fanned further after new data on Tuesday showed job openings and the voluntary quit rate each surged to a record high in April.

“The labor markets are still struggling to get out of first gear as it relates to the supply of the workforce,” ManpowerGroup CEO Jonas Prising told Yahoo Finance. “There are childcare concerns, there are still…

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