A week of heavy selling has rocked U.S. stocks and bonds, and many investors are bracing for more pain ahead. Wall Street banks are adjusting their forecasts to account for a Federal Reserve that shows no evidence of letting up, signaling more tightening ahead to fight inflation after another market-bruising rate hike this week. The S&P 500 is down more than 22% this year.
* Weekly declines for main indexes between 4% and 5% * Costco slips after quarterly gross margins fall. * Energy stocks slump on drop in U.S. crude prices. * Indexes down: Dow 1.62%, S&P 1.72%, Nasdaq 1.8% By David French.
* All three major indexes set for sharp weekly losses. * Costco slips after quarterly gross margins fall. * Energy stocks slump on drop in U.S. crude prices. By David French.
-The blue-chip Dow Jones Industrial Average tumbled to its lowest level since November 2020 on Friday, but narrowly missed ending more than 20% below its Jan. 4 closing record high. A Dow close below 29,439.72 would have confirmed a bear market that began from that record, according to a widely used definition. The Dow is the only one of the three main indexes not to have bear market status.
* Dow poised to confirm bear market. * MSCI All-World index hits 2-year low. * Dollar reaches new two-decade high. * Sterling and gilts sell off after UK 'mini-budget' By Herbert Lash, Amanda Cooper and Tommy Wilkes.
* All three major indexes set for sharp weekly losses. * Costco slips after quarterly gross margins fall. * Indexes down: Dow 2.35%, S&P 2.52%, Nasdaq 2.58% By David French.
U.S. wheat futures fell about 3% on Friday, joining a broad sell-off in commodity and equity markets tied to fears of an economic downturn that would dent demand, analysts said. Corn and soybean futures joined the weaker trend, pressured by recession fears and the expanding U.S. harvest.
* All three major indexes set for sharp weekly losses. * Costco slips after quarterly gross margins fall. * Indexes down: Dow 2.27%, S&P 2.40%, Nasdaq 2.34% By Ankika Biswas and Devik Jain. Sept 23 - Wall Street's main indexes slid more than 2% on Friday as investors feared the U.S. Federal Reserve's hawkish policy actions to quell inflation could trigger a recession and dent corporate earnings.
The blue-chip Dow Jones Industrial Average tumbled to its lowest level since November 2020 on Friday, but narrowly missed ending more than 20% below its Jan. 4 closing record high. A Dow close below 29,439.72 would have confirmed a bear market that began from that record, according to a widely used definition. The Dow is the only one of the three main indexes not to have bear market status.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required