Wall Street closed lower after a report showed inflation is slowing, though not by as much as hoped. The S&P 500 fell 0.7% Friday, marking its first losing week in the last three.
The weakness came after the U.S. government reported that prices at the wholesale level were 7.4% higher in November than a year earlier. That’s a slowdown from October but worse than economists expected.
High inflation, along with the Federal Reserve’s economy-crunching response to it, have been the main reasons for the stock market’s painful tumble this year.
On Friday:
The S&P 500 fell 29.13 points, or 0.7%, to 3,934.38.
The Dow Jones Industrial Average fell 305.02 points, or 0.9%, to 33,476.46.
The Nasdaq fell 77.39 points, or 0.7%, to 11,004.62.
The Russell 2000 index of smaller companies fell 21.63 points, or 1.2%, to 1,796.66.
For the week:
The S&P 500 is down 137.32 points, or 3.4%.
The Dow is down 953.42 points, or 2.8%.
The Nasdaq is down 456.88 points, or 4%.
The Russell 2000 is down 96.18 points, or 5.1%.
For the year:
The S&P 500 is down 831.80 points, or 17.5%.
The Dow is down 2,861.84 points, or 7.9%.
The Nasdaq is down 4,640.35 points, or 29.7%.
The Russell 2000 is down 448.65 points, or 20%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
