NEW YORK (AP) — Stocks are tumbling on Friday as the sharp, latest surge in rates of interest retains weighing on Wall Street.
Some disappointing revenue experiences from corporations additionally shook what’s been the market’s foremost pillar of assist.
The S&P 500 was 2.4% decrease in afternoon buying and selling and on tempo to shut out a third straight losing week. A day earlier, Wall Street appeared set for wholesome positive factors for the week after extra corporations reported sturdy earnings for the beginning of the 12 months.
But markets buckled as the Federal Reserve indicated it could certainly hike charges by double the same old quantity at upcoming conferences, beginning in two weeks.
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