Stocks fell Wednesday after a fresh batch of economic data offered worrying signs of how the economy is weathering the Federal Reserve’s tightening campaign.

The S&P 500 shed 1.2% in afternoon trading, with each of its 11 sectors within the red. The Dow Jones Industrial Average was down 1.3%, or about 450 points. The Nasdaq Composite Index lost 1%. All three major indexes gave up gains from early trading.