NEW YORK (Reuters) – The New York Stock Exchange ended lower on Friday, dragged down by falling U.S. large-cap stocks and rising U.S. bond yields, ending four straight weeks of gains.
The Dow Jones Industrial Average fell -0.86%, or 292.3 points, to 33,706.74 points.
The broader S&P-500 fell 55.37 points, or -1.29%, to 4,228.37 points.
The Nasdaq Composite fell for its part by 260.13 points (-2.01%) to 12,705.22 points.
Investors are wondering how aggressive the US Federal Reserve (Fed) might be in raising interest rates to fight inflationary pressures.
“Rising interest rates across the globe and heavy-handed central bank rhetoric are being used as pretexts to drive equities into very low volumes on this Friday in August,” said Peter Cardillo, chief economist at Spartan. Capital Securities in New York.
VALUES
Bed Bath & Beyond shares plunged 41% after billionaire Ryan Cohen sold his stake in the struggling homewares group.
* The reminder of the session in Europe: [.EUFR]
(Report Matthieu Protard)
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