S&P, Nasdaq notch biggest weekly losses since March
STORY: Wall Street see-sawed on Friday then closed slightly lower after a tumultuous week as investors digested the Federal Reserve's hawkish outlook.
The Dow shed three-tenths of a percent, the S&P 500 lost two-tenths and the Nasdaq dipped marginally.
The Fed this week let its key interest rate stand, but it updated its projections to suggest that restrictive monetary policy will remain in place longer than previously anticipated.
On Friday, Fed Governor Michelle Bowman supported the hawkish sentiment by saying the central bank should “raise rates further and hold them at a restrictive level for some time” to bring inflation down to the Fed’s 2% target.
“That has ramifications, particularly for growth equities, but really for the entire global economy….”
William Fitzpatrick is Managing Director and Portfolio Manager at Logan Capital Management.
“And I think the realization that's hit this week is really what started to weigh on investors, and why we're seeing the weakness... certainly weak today."
In company news, shares of Ford gained about 2% after the striking United Auto Workers union reported progress in talks with the automaker.
Shares of Activision Blizzard added nearly 2% after Microsoft's restructured $69 billion deal to buy the gaming company appeared closer to being approved by British regulators.
And shares of Alibaba jumped 5% after Bloomberg reported the company's logistics arm Cainiao was planning to file for a Hong Kong IPO as soon as next week.
- 差距拉近50萬票 侯康配緊逼賴蕭配？總統候選人侯友宜、副總統候選人趙少康同台專訪【今天誰來沛】今天誰來沛281,303 次觀看・2 週前
- 今晚變天 入冬最強冷氣團要來了！兩波東北季風接力 低溫恐跌破14度彭博士觀風向55,331 次觀看・1 週前
- 以色列哈瑪斯互釋作戰影片 激烈巷戰 加薩最新空拍 以軍插旗、建築成瓦礫廢墟Yahoo奇摩（國際通）35,339 次觀看・8 小時前
- 中菲南海衝突再起 直擊菲船遭中國水炮攻擊 雙方船隻碰撞瞬間曝光Yahoo奇摩（國際通）18,866 次觀看・7 小時前
- 花2280元買女兒周歲蛋糕 「龜裂像壁癌」 母拿拖鞋怒砸東森新聞影音185,578 次觀看・1 天前
- 火雞肉便當「4菜1湯」只賣50元 嘉義便當店超佛心華視影音24,378 次觀看・1 天前
- 林志玲力挺 AKIRA！大咖嘉賓也一起～ 曝「兒子和爸一起練習」竟有跳舞神基因？娛樂星聞148,643 次觀看・2 天前
- 才挺過王力宏事件...徐若瑄爆9年婚斷！3天前吐「我不快樂」2大導火線曝光娛樂星聞139,537 次觀看・1 天前
- 好心提醒「超出車格」 愛車被刮「哨兵模式」全都錄華視影音67,497 次觀看・2 天前
- 怒遭仲介剝削！千名移工上街頭 轟勞動部失能｜#鏡新聞鏡新聞49,051 次觀看・1 天前