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How major US stock indices fared on Friday

Stocks fell on Wall Street on Friday after investors’ hopes were dashed that inflation could peak.

Instead, it worsened last month and hit another 40-year high, ensuring the Federal Reserve’s foot will remain firmly on the brakes in the economy.

Treasury yields hit their highest levels in years as investors anticipated that inflation would not recede anytime soon. Them&P 500 fell and closed its ninth losing week in the past 10. The Fed is increasingly expected to raise its short-term policy rate by half a percentage point at each of its next three meetings, starting next week.

Friday:

Them&P 500 fell 116.96 points, or 2.9%, to 3,900.86.

The Dow Jones Industrial Average fell 880 points, or 2.7%, to 31,392.79.

The Nasdaq fell 414.20 points, or 3.5%, to 11,340.02.

The Russell 2000 Small Business Index fell 50.57 points, or 2.7%, to 1,800.28.

For the week:

Them&P 500 is down 207.68 points, or 5.1%.

The Dow is down 1,506.91 points, or less than 4.6%.

The Nasdaq is down 672.71 points, or 5.6%.

The Russell 2000 is down 82.77 points, or 4.4%.

For the year:

Them&P 500 is down 865.32 points, or 18.2%.

The Dow is down 4,945.51 points, or 13.6%.

The Nasdaq is down 4,304.95 points, or 27.5%.

The Russell 2000 is down 445.03 points, or 19.8%.

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Post expires at 4:27pm on Wednesday June 22nd, 2022