Stocks Post Worst Week Since March 2020 Amid ‘Deafening’ Recession WorriesThe stock market struggled for direction on Friday after
brutal selloffs in recent days, with the benchmark S&P 500 on track for its worst week since March 2020 as investors brace for a looming recession.
Stocks were mixed after several sharp selloffs earlier this week:
The Dow Jones Industrial Average fell 0.1%, less than 100 points, while the
S&P 500 rose 0.2% and the tech-heavy
Nasdaq Composite gained 1.4%.Markets have been roiled by rising recession fears this week, with the
S&P 500 falling roughly 6% — its worst weekly performance since March 2020.
After especially steep losses on Thursday, the
Dow fell below the 30,000 mark and hit its lowest level so far in 2022, while the S&P and Nasdaq remain firmly in bear market territory.
Investors are still digesting the latest rate hike from the Federal Reserve, which
raised interest rates by 75 basis points.
