Despite a bounce back in stocks Friday, the major averages posted losses for another week.
It was another incredibly volatile week for stocks. Inflation readings came in hotter than expected on Wednesday, intensifying investor fears over the Federal Reserve's efforts to curb prices by raising interest rates. Despite a bounce back in stocks Friday, all major averages still finished lower this week. The Dow fell more than 2% and notched its seventh straight week of losses. The tech-heavy Nasdaq dropped 2.8% on the week, while the S & P 500 slid 2.4%.
US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022.It was another incredibly volatile week for stocks. Inflation readings came in hotter than expected on Wednesday, intensifying investor fears over the Federal Reserve's efforts to curb prices by raising interest rates. Despite a bounce back in stocks Friday, all major averages still finished lower this week. The Dow fell more than 2% and notched its seventh straight week of losses.
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