Dow tumbles 475 points, S&P 500 suffers worst day since January as inflation woes erupt
Stocks sold off Friday as inflation and geopolitical worries once again dented investor sentiment on Wall Street.
Stocks sold off Friday as inflation and geopolitical worries once again dented investor sentiment on Wall Street. A broad decline in major bank shares also weighed on the market.
The Dow Jones Industrial Average slid 475.84 points, or 1.24%, closing at 37,983.24. The S&P 500 tumbled 1.46% at 5,123.41. The Nasdaq Composite pulled back by 1.62% at 16,175.09.
At one point in the trading session, the Dow was down by nearly 582 points, or 1.51%. The S&P 500 slid as much as 1.75%.
Week to date, the broad market index dropped 1.56%, and the 30-stock Dow fell 2.37%. Meanwhile, the tech-heavy Nasdaq is 0.45% lower for the week.
Markets are generally in good shape so far this year. The Dow is up 0.7% year-to-date. The S&P 500 and Nasdaq are up 8% and 9.5% respectively since the beginning of 2024.
Rating: 5