US stocks and bruising week near ‘bear market’ territory

US stocks and bruising week near ‘bear market’ territory

US stocks and bruising week near ‘bear market’ territory

US stocks and bruising week near ‘bear market’ territory

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The Dow and S&P 500 finished a rollercoaster session essentially flat, concluding a bruising week of losses on an uncertain notice.

Worries about a recession as the Federal Reserve hikes interest quotes and inflation exams patron resilience weighed in the marketplace all week, pushing the S&P 500 right into a undergo market earlier in Friday’s session.

The broad-based S&P 500 finished at 3,901.36, basically unchanged for the day but down three percent for the week.

A “bear market” is a drop of at least 20 percent from a recent market peak. The S&P 500 is currently down about 19 percent from its January high.

The Dow Jones Industrial Average was also unchanged at 31,261.90, while the tech-rich Nasdaq Composite Index fell 0.3 percent to 11,354.62.

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The drop in stocks is “generally signaling slower growth at the very least,” said LBBW’s Karl Haeling, adding that “a lot of people are talking about a recession next year.”

Among man or woman businesses, Ross Stores fell greater than 22 percent as it joined the list of shops reporting a drag from better-operating prices.

Deere & Company plunged 14.1 percent no matter lifting its profit forecast as the agriculture-centered device maker said supply chain problems had been affecting manufacturing and shipping schedules.

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