The stock market ended an unusually turbulent week with its fifth straight weekly decline
The bumpy and mostly lower ride came as investors worry that the Federal Reserve may not succeed in engineering a smooth cooldown of the economy without letting inflation get out of hand. The Fed is aggressively moving to yank supports for the economy put in place through the pandemic. That has helped send bond yields, which influence mortgage rates, to the highest levels since 2018, and they’re sure to move higher.
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 index of smaller companies 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%.