After a volatile week, Wall Street is bracing for much losses arsenic U.S. stock-index futures fell sharply precocious Sunday.
Stocks slumped to extremity the week aft Fed Chairman Jerome Powell said the cardinal slope was not considering a 75-basis-point complaint hike, starring immoderate to question whether the Fed is doing capable to power inflation. The Dow tumbled much than 1,000 points Thursday, marking its worst time successful 5 years, a time aft jumping 900 points for its champion time since 2020.
On Friday, the Dow DJIA, -0.30% fell 98.60 points, oregon 0.3%, to adjacent astatine 32,899.37, portion the S&P 500 SPX, -0.57% dropped 23.53 points, oregon 0.6%, to decorativeness astatine 4,123.34, and the Nasdaq Composite COMP, -1.40% shed 173.03 points, oregon 1.4%, to extremity astatine 12,144.66.
For the week, the Dow and S&P 500 each slipped 0.2% portion the technology-heavy Nasdaq fell 1.5%. Both the Nasdaq and S&P 500 fell for a 5th consecutive week, portion the Dow dropped for a sixth consecutive week, according to Dow Jones Market Data.