U.S. stocks fell again on Friday, capping up a challenging week for the market.
To settle at 33,963.84, the Dow Jones Industrial Average lost 106.58 points, or 0.31%. To 4,320.06, the S&P 500 dropped 0.23%. To 13,211.81, the Nasdaq Composite fell 0.09%.
After a source told CNBC that Ford was making headway in talks with the striking United Auto Workers union, the automaker saw its share price end the day up 1.9%. General Motors finished lower, while Stellantis traded marginally higher.
The three major indices lost ground on Friday for the fourth day in a row. Investors responded to the Federal Reserve’s indication that it wanted to keep interest rates higher for longer by going on a losing streak.
The Nasdaq Composite, which is heavily weighted towards technology, fell 3.6% this week while the S&P 500 fell 2.9%. That was each of them’s poorest weekly result since March and third consecutive negative week. Blue-chip Dow fell 1.9% during the entire week.
Source (CNBC)
