Stocks end lower Friday, finish a volatile week down on Wall Street

stocks-end-lower-friday,-finish-a-volatile-week-down-on-wall-street

U.S. stock indexes finished lower on Friday, capping a turbulent week on Wall Street with modest losses after the Federal Reserve moved its policy rate up by a half-percentage point and signaled similar increases were likely at the central bank’s next two policy meetings. The Dow Jones Industrial Average DJIA, -0.30% shed about 96 points, or 0.3%, ending Friday near 32,901, while recording a 0.2% weekly loss. It marked the Dow’s sixth straight weekly loss. The S&P 500 index SPX, -0.57% finished the session 0.6% lower, off 0.2% for the week. The Nasdaq Composite Index COMP, -1.40% closed 1.4% lower Friday and down 1.5% for the week. Financial markets have been volatile as investors grow nervous about the Fed’s ability to tighten financial conditions to combat inflation at 40-year highs, without derailing the economy. More hawkish tones from the Fed since November have led to rates volatility, but also negative total returns this year on bonds and stocks. The 10-year Treasury rate jumped 23.9 basis points on the week to 3.124%, its highest since Nov. 2018, according to Dow Jones Market Data.

Source: Marketwatch

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