https://sputnikglobe.com/20220916/us-stocks-dow-index-heads-for-worst-week-since-october-2020-ahead-of-rate-hike-1100871349.html
US Stocks' Dow Index Heads For Worst Week Since October 2020, Ahead of Rate Hike
US Stocks' Dow Index Heads For Worst Week Since October 2020, Ahead of Rate Hike
Sputnik International
NEW YORK (Sputnik) - Fears of a third outsized rate hike in a row sent US stocks tumbling on Friday, with the broad-based Dow index headed for its worst week... 16.09.2022, Sputnik International
2022-09-16T15:20+0000
2022-09-16T15:20+0000
2022-09-16T15:20+0000
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The Dow Jones Industrial Average, which comprises stocks of 30 large US corporations, was down 4.81% on the week some 40 minutes after the market’s open. That was the largest weekly slide on the Dow since the week to October 30, 2020, when it fell 6.47%.The S&P 500 Index, which represents the top 500 US stocks, was 4.1% lower on the week. The Nasdaq Composite Index, which comprises marquee names in technology such as Amazon, Apple, Netflix and Google, was down 6.3% on the week. Stocks plunged this week ahead of a third rate hike of 75 basis points expected from the Federal Reserve when it meets on September 21.
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US Stocks' Dow Index Heads For Worst Week Since October 2020, Ahead of Rate Hike
NEW YORK (Sputnik) - Fears of a third outsized rate hike in a row sent US stocks tumbling on Friday, with the broad-based Dow index headed for its worst week in almost two years.
The Dow Jones Industrial Average, which comprises stocks of 30 large US corporations, was down 4.81% on the week some 40 minutes after the market’s open. That was the largest weekly slide on the Dow since the week to October 30, 2020, when it fell 6.47%.
The S&P 500 Index, which represents the top 500 US stocks, was 4.1% lower on the week. The Nasdaq Composite Index, which comprises marquee names in technology such as Amazon, Apple, Netflix and Google, was down 6.3% on the week. Stocks plunged this week ahead of a third rate hike of 75 basis points expected from the Federal Reserve when it meets on September 21.
