Dow Jones, S&P 500, Nasdaq tumble amid fears of aggressive rate hikes; fourth straight weekly loss for Dow
Wall Street Dow Jones News: 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 worlds 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.
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
Sensex and Nifty50 on February 24, and other market news. For news related to business, politics, tech, sports and auto, visit Zeebiz.com.
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