NEW YORK — The stock market’s sluggish start in 2014 may not be what investors expected after last year’s strong finish.
As of Wednesday, the fifth trading day of the year, the Standard & Poor’s 500 index was down 0.6 percent for 2014, after falling four of the five days. A year ago, the index had climbed 2.2 percent, getting a boost after lawmakers passed a bill to avoid government spending cuts and tax increases. Stocks also got a lift after the government reported that hiring held up.