Wall Street stocks finished an ugly consultation with heavy losses Friday, pushing essential indices into the red for the week amid tension over higher interest costs.

The Dow Jones Industrial Average completed at 33,811.40, down 2.8 percent or nearly 1,000 factors.

The broad-based S&P 500 fell 2.8 percent to 4,271.78, while the tech-rich Nasdaq Composite Index tumbled 2.6 percent to 12,839.29.

The selloff followed hawkish remarks Thursday from Fed Chair Jerome Powell, who signaled that the central bank could enact a half-point rate increase in May, twice the level of the typical Fed hike.

“There’s high anxiety over how aggressive the Fed is going to be,” said Art Hogan, strategist at National Securities, adding that investors were also looking to lessen equity exposure ahead of the weekend.

Worries about the Fed and stubbornly high inflation have overshadowed more favorable dynamics, such as mostly good corporate earnings, a very strong employment market, and data showing fairly resilient consumer spending.

“Markets are very uneasy about the growing likelihood of a policy error by the Federal Reserve,” said Jamie Cox, managing partner for Harris Financial Group, adding that talk about a possible 75 basis point increase has especially rattled investors.

Friday’s losses were broad-based, with all 11 indices of the S&P 500 in the red.

Among person groups, Verizon dove 5.7 percent after the telecom large released a disappointing earnings and sales increase forecast given heavy spending on constructing its 5G community.

The hole turned into any other huge loser, plunging 18.1 percent as it introduced its far replacing the pinnacle of its Old Navy chain, at the same time as it lowered its sale forecast.

But Kimberly-Clark jumped 8.2 percent because the consumer products enterprise lifted its income forecast following strong quarterly outcomes.