The stock market ended an unusually turbulent week with its fifth straight weekly decline
The bumpy and mostly lower run came as investors fear the Federal Reserve will fail to stage a smooth cooling of the economy without letting inflation spiral out of control. The Fed is taking aggressive action to withdraw supports for the economy put in place during the pandemic. This has helped send bond yields, which influence mortgage rates, to the highest levels since 2018, and they are sure to rise.
The S&P 500 fell 23.53 points, or 0.6%, to 4,123.34.
The Dow Jones Industrial Average fell 98.60 points, or 0.3%, to 32,899.37.
The Nasdaq fell 173.03 points, or 1.4%, to 12,144.66.
The Russell 2000 Small Business Index fell 31.58 points, or 1.7%, to 1,839.56.
For the week:
The S&P 500 is down 8.59 points, or 0.2%.
The Dow is down 77.84 points, or 0.2%.
The Nasdaq is down 189.98 points, or 1.5%.
The Russell 2000 is down 24.54 points, or 1.3%.
For the year:
The S&P 500 is down 642.84 points, or 13.5%.
The Dow is down 3,438.93 points, or 9.5%.
The Nasdaq is down 3,500.31 points, or 22.4%.
The Russell 2000 is down 405.75 points, or 18.1%.