Tuesday, May 21, 2024
Tuesday, May 21, 2024
HomeNewsOther NewsStocks sink as Nasdaq, S&P 500 snap prolonged win streaks: Inventory market...

Stocks sink as Nasdaq, S&P 500 snap prolonged win streaks: Inventory market information at this time

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Stocks fell on Friday, with all main averages ending the week decrease as buyers come to phrases with the prospect of extra interest-rate hikes forward from the Federal Reserve.

The S&P 500 (^GSPC) dropped 0.76%, whereas the Dow Jones Industrial Average (^DJI) slipped 218 factors, or 0.64%. The tech-heavy Nasdaq Composite (^IXIC) led the declines, falling 1.01%. The Nasdaq had its first weekly loss within the final eight, whereas the S&P 500 snapped a five-week win streak.

Fed Chair Jerome Powell doubled down on his view on Thursday that extra fee will increase are wanted to mood inflation, becoming a member of a worldwide refrain of hawkish central banks.

That’s revived some worries concerning the potential hit to economies, although Treasury Secretary Janet Yellen mentioned she now sees a decrease threat of US recession. But a red-hot studying in a key gauge of Japanese inflation has underlined the pressures on policymakers.

Click right here for the latest inventory market information and in-depth evaluation, together with occasions that transfer shares

Read the latest monetary and business information from Yahoo Finance

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