Stocks ended broadly lower on Wall Street, leaving most major indexes in the red for the week, as more concerns emerged about inflation.
Markets fell after a report showed U.S. consumers raising their expectations for inflation, yet another signal that the Federal Reserve will have to continue aggressively raising interest rates. The strategy raises the risk of a recession.
The S&P 500 fell 2.4 percent Friday. The Dow fell 1.3 percent and the Nasdaq gave back 3.1 percent. The yield on the 10-year Treasury note, which influences mortgage rates, is near the highest it’s been since 2008.
On Friday: The S&P 500 fell 86.84 points, or 2.4 percent, to 3,583.07.
The Dow Jones Industrial Average fell 403.89 points, or 1.3 percent, to 29,634.83.
The Nasdaq fell 327.76 points, or 3.1 percent, to 10,321.39.
The Russell 2000 index of smaller companies fell 46.01 point, or 2.7 percent, to 1,682.40. For the week:…