NEW YORK — U.S. stocks are tacking more losses onto what was already going to be one of their worst weeks of the year. The S&P 500 fell 0.4% Friday as its struggles continue after the Federal Reserve warned it may deliver fewer cuts to interest rates next year than earlier expected. The Dow Jones Industrial Average dropped 61 points, or 0.1%, and the Nasdaq composite fell 0.9%. Nike helped drag on the market following its latest profit report.
It was a massive setback for Trump and his billionaire ally, Elon Musk, who railed against Johnson’s bipartisan compromise, which Republicans and Democrats had reached earlier to prevent a Christmastime government shutdown. In premarket trading Friday, FedEx shares jumped 9% after the package delivery company nudged past second-quarter profit projections and announced it would pursue spinning off its freight division into a separate public company.
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