The S&P 500 erases 2.8 percent and the Nasdaq 2.6 percent amid signals the Fed will raise rates at a more aggressive clip
By Aaron Gregg
Today at 1:52 p.m. EDT | Updated today at 4:08 p.m. EDT
[Five charts explaining why inflation is at a 40-year high]Stocks tanked Friday — with the Dow tumbling nearly 1,000 points — as investors absorbed increasingly hawkish signals the Federal Reserve would raise interest rates at a more aggressive clip.
The Dow Jones industrial average closed down 981.36 points, or 2.8 percent, to end at 33,811.40 and mark its fourth-consecutive weekly decline. The broader S&P 500 index shed 121.88 points, or 2.8 percent, to settle at 4,271.78, while the tech-heavy Nasdaq tumbled 335.36 points, or 2.6 percent, to close at 12,839.29.
It was the Dow’s worst day since October 2020, according to MarketWatch, bringing the blue-chip index 1.9 percent lower for the week. It’s down about 7 percent year to date. ... The S&P 500 fell 2.8 percent this week and has shed 10.4 percent since the start of the year. Nasdaq slumped 3.8 percent this week and has lost 17.9 percent year to date.
https://www.washingtonpost.com/business ... on-charts/