Wall Street ends down on fears inflation will force tougher Fed tightening

Published by
Reuters

By Echo Wang (Reuters) – Wall Street’s main indexes extended losses on Friday as investors worried that the Federal Reserve will need to be more aggressive than expected in raising interest rates to combat inflation. The tech-heavy Nasdaq registered its lowest close since 2020, notching a fifth straight weekly loss, its longest losing streak since the fourth quarter of 2012. The S&P 500 also posted its fifth straight weekly loss, its longest string of weekly losses since the second quarter of 2011. “Ninety-five percent of the driver of the market right now is long-term interest rates,” said Ja…

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