Stocks closed lower on Wall Street, marking their third losing week in the last four
Stocks closed lower on Wall Street, marking their third losing week in the last four.
Banks, technology companies and industrials all helped pull major indexes lower Friday. The S&P 500, the Nasdaq and the Dow Jones Industrial Average all fell.
After pushing the S&P 500 to a record high last week, investors have been taking money off the table as the Federal Reserve moves to dial back stimulus and fight inflation with interest rate increases starting some time next year.
The S&P 500 fell 48.03 points, or 1%, to 4,620.64.
The Dow Jones Industrial Average fell 532.20 points, or 1.5%, to 35,365.44.
The Nasdaq fell 10.75 points, or 0.1%, to 15,169.68.
The Russell 2000 index of smaller companies rose 21.48 points, or 1%, to 2,173.93.
For the week:
The S&P 500 is down 91.38 points, or less than 1.9%.
The Dow is down 605.55 points, or 1.7%.
The Nasdaq is down 460.92 points, or 2.9%.
The Russell 2000 is down 37.87 points, or 1.7%.
For the year:
The S&P 500 is up 864.57 points, or 23%.
The Dow is up 4,758.96 points, or 15.5%.
The Nasdaq is up 2,281.40 points, or 17.7%.
The Russell 2000 is up 199.08 points, or 10.1%.