Stock market news live updates: Stocks little changed after three-day slide

U.S. stocks struggled for direction in a turbulent session Wednesday after three straight days of losses placed the major averages on pace for monthly declines.

The S&P 500 was just above breakeven, while the Dow Jones Industrial Average teetered into the red. The tech-heavy Nasdaq Composite ticked up 0.1%. A volatile run for stocks in recent weeks has erased much of the summer’s relief rally, with the S&P 500 officially wiping out half of its bounce since mid-June.

Shares of Bed Bath & Beyond (BBBY) tanked nearly 22% at the start of trading Wednesday after the home-goods retailer announced in an anticipated strategic update that it would lay off staff and shutter approximately 150 stores as part of a turnaround effort for its struggling business. The company also said it secured more than $500 million of new financing.

The announcement came shortly after Bed Bath & Beyond reported in a regulatory filing that it may offer, issue and sell shares of its common stock from time to time…

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This article was written by and originally published on finance.yahoo.com