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US stocks and bruising week near ‘bear market’ territory

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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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