U.S. stocks capped off a rocky week by finishing lower on Friday after erasing their gains from earlier in the session as the Federal Reserve’s warning that it plans to keep interest rates higher for longer continued to reverberate across global markets. The S&P 500 SPX, -0.23% fell 10.17 points, or 0.2%, to finish Friday at 4,319.93, according to preliminary closing data from FactSet. It marked the fourth-straight session in the red, the longest streak of daily losses since early August.
Also, the benchmark index fell 2.9% on the week, its biggest such drop since the week ended March 10, when the collapse of Silicon Valley Bank sparked a painful but short-lived selloff. The Nasdaq Composite COMP, -0.09% fell 12.18 points, or 0.1%, to 13,211.81, capping off a weekly loss of 3.6%, also the index’s worst since March 10. The Dow Jones Industrial Average DJIA, -0.31% fell 106.38 points, or 0.3%, to 33,964.44, falling 1.9% on the week, its worst in about a month.
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