Dow Jones, S&P 500, Nasdaq tumble amid fears of aggressive rate hikes; fourth straight weekly loss for Dow

Dow Jones, S&P 500, Nasdaq futures: The three main Wall Street indices — the Dow Jones, the S&P 500 and US tech stocks-heavy Nasdaq Composite — suffered sharp losses on Friday, with the Dow Jones logging its fourth back-to-back weekly cut, after two separate data sets suggested resilient consumers in the world's largest economy.

The slide mirrored the moves in Europe and Asia after upbeat economic data dashed nascent hopes of an earlier end to the current cycle of rate hikes, after a downward revision in a key US GDP estimate the previous day sent Wall Street indices rising.

On Dalal Street, benchmark indices Sensex and Nifty50 continued to fall for the sixth day in a row dragged by financial and IT shares, as the market entered a new monthly series. ALSO READ: All Adani group stocks bleed; a look at latest in Adani vs Hindenburg

How Dow Jones, Nasdaq futures moved

Here's a look at how the Dow, the S&P 500 and the Nasdaq Composite fared:

• S&P 500: down 42.28 pts — or 1.1 per cent — at 3,970 
• Dow Jones Industrial Average: down 337 pts — or one per cent — at 32,816.9 
• Nasdaq Composite: down 195.5 pts — or 1.7 per cent — at 11,394.9

Dow Jones logs its fourth straight weekly fall — its longest losing streak in 10 months

Falling three per cent for the week, the Dow Jones registered its worst weekly cut since September.

For the week ended February 24, the Dow Jones, Nasdaq Composite tumbled around three per cent

• S&P 500: down 2.7 per cent  
• Dow Jones: down three per cent 
• Nasdaq: down 3.3 per cent 

(With inputs from agencies)

Catch all the action in Sensex and Nifty50 on February 24, and other market news. For news related to business, politics, tech, sports and auto, visit Zeebiz.com.