Stocks gave up an early rally and closed lower on Wall Street Thursday as a streak of market volatility continued.

       Markets are still processing the latest indications from the Federal Reserve a day earlier that the central bank is increasingly concerned about inflation and plans to raise interest rates and take other steps soon to fight it. Investors were encouraged to see that the U.S. economy grew last year at the fastest pace since 1984.

       On Thursday:

       The S&P 500 fell 23.42 points, or 0.5%, to 4,326.51.

       The Dow Jones Industrial Average fell 7.31 points, or less than 0.1%, to 34,160.78.

       The Nasdaq fell 189.34 points, or 1.4%, to 13,352.78.

       The Russell 2000 index of smaller companies fell 45.18 points, or 2.3%, to 1,931.29.

       For the week:

       The S&P 500 is down 71.43 points, or 1.6%.

       The Dow is down 104.59 points, or 0.3%.

       The Nasdaq is down 416.14 points, or 3%.

       The Russell 2000 is down 56.63 points, or 2.8%.

       For the year:

       The S&P 500 is down 439.67 points, or 9.2%.

       The Dow is down 2,177.52 points, or 6%.

       The Nasdaq is down 2,292.19 points, or 14.7%.

       The Russell 2000 is down 314.03. points, or 14%.