Stocks fell broadly on Wall Street Friday, sending the S&P 500 to its worst weekly loss since February.
Banks and other stocks that soared earlier this year on expectations for the economy and inflation were among the biggest losers. Investors are still recalibrating their moves after the Federal Reserve’s signal this week that it may raise rates sooner than expected.
Short-term Treasury yields continued to spurt higher, and the Dow Jones Industrial Average had its worst weekly loss since October.
The S&P 500 fell 55.41 points, or 1.3%, to 4,166.45.
The Dow Jones Industrial Average fell 533.37 points, or 1.6%, to 33,290.08.
The Nasdaq fell 130.97 points, or 0.9%, to 14,030.38.
The Russell 2000 index of smaller companies fell 49.71 points, or 2.2%, to 2,237.75.
For the week:
The S&P 500 is down 80.99 points, 1.9%.
The Dow is down 1,189.52 points, or 3.5%.
The Nasdaq is down 39.05 points, or 0.3%.
The Russell 2000 is down 98.06 points, or 4.2%.
For the year:
The S&P 500 is up 410.38 points, or 10.9%.
The Dow is up 2,683.60 points, or 8.8%.
The Nasdaq is up 1,142.09 points, or 8.9%.
The Russell 2000 is up 262.89 points, or 13.3%.