New York—The Dow Jones industrial average plummeted more than 900 points on Friday to post its worst daily loss since October 2020.
The blue-chip index lost 981 points, or 2.82 percent, to close at 33,811.
The S&P 500 dove 121 points, or 2.77 percent, to 4,271.
Tech-heavy Nasdaq decreased 335 points, or 2.55 percent, to end the day at 12,839.
It was the third straight week of losses for both the S&P 500 and the Nasdaq, while the Dow Jones posted its fourth weekly decline in a row.
For the week, the Dow dipped 1.9 percent, the S&P dropped 2.8 percent, and the Nasdaq declined 3.8 percent.
Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on Capitol Hill in Washington on March 3, 2022. (Tom Williams, Pool via AP)
The decline came after Federal Reserve officials indicated this week that the central bank will make a 50-basis-point rate hike in its next meeting on May 4.
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