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Inflation Concerns Weigh on S&P
S&P Falls on Inflation Concerns
Wall Street Looks to End Week on High Note
Indexes Fall on Inflation Report
Inflation Hot, Stocks Sink Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Friday, March 15, 2024
Indexes Fall on Inflation Concerns, Second Straight Weekly Loss Advertisment
The S&P 500 fell on Friday and was on track to end the week lower, with technology stocks under pressure as inflation concerns remain front and center ahead of the Federal Reserve's policy meeting next week.
The Dow Jones Industrials swooned 190.89 points to end the week at 38,714.77.
The much-broader index gave back 33.39 points to 5,117.09.
The NASDAQ faltered 155.35 points, or 1%, to 15,973.17.
The S&P 500 is down roughly 0.3% from the start of the week, while the 30-stock Dow declined 0.2% and NASDAQ shed 0.7%.
Tech shares were broadly lower, with Apple and Microsoft down more than 1% and 2%. Shares of Amazon and Google-parent Alphabet also fell. Nvidia bucked the trend, however, climbing more than 1%. The chipmaker has whipsawed this week as traders worry about the stock's valuation and book profits in the high-flying name.
Trading volumes was elevated and prices proved volatile Friday as futures and options on stock indexes and individual stocks all expire simultaneously in a process known as“triple witching” that happens once a quarter.
Prices for the 10-year Treasury lost ground, lifting yields to 4.31% from Thursday's 4.29%. Treasury prices and yields move in opposite directions.
Oil prices skidded 26 cents to $81.00 U.S. a barrel.
Gold prices sagged $7.20 to $2,160.30.
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