Wall Street capped a choppy week of trading Friday with a broad slide for stocks that left the major indexes in the red for the week.
The S&P 500 closed 1.3 percent lower, breaking a four-week winning streak. Shares in more than 80 percent of the companies in the benchmark index fell, with technology stocks driving much of the pullback.
The tech-heavy Nasdaq composite fell 2 percent and also ended four weeks of gains. The Dow Jones Industrial Average dropped 0.9 percent, ending slightly in the red for the week. Small company stocks also lost ground, pulling the Russell 2000 index 2.2 percent lower.
Friday marked the heaviest selling for the market, including the S&P 500’s biggest decline in more than seven weeks, after a solid run of weekly gains. The strong market rally in July and early August followed better-than-expected company earnings and signs that the economy is slowing, possibly setting the stage for less aggressive rate hikes, the Federal Reserve’s main tool for taming surging inflation….