Stocks pare losses after sliding on worries about the economy's health

Wall Street experienced a volatile day but ended on a calmer note. The Dow dropped 115 points or 0.3%, while the S&P 500 rose 0.1% and the Nasdaq Composite added 0.6% on the first trading day of June. The Institute for Supply Management manufacturing index reported a decrease in May, signaling contraction in the US manufacturing industry. Investors have been concerned about inflation and the possibility of a longer period of higher interest rates. However, major stock indexes achieved their sixth winning month in May. The New York Stock Exchange resolved a technical issue that caused trading to halt for some stocks. GameStop shares rose 21% after a Reddit post disclosed a large stake in the video game stock.