was down 1%. The indexes were heading toward their second straight weekly decline and the first negative December in four years.
The gloomy holiday mood is being stoked by fears about the Federal Reserve's aggressive actions to stop inflation in its tracks, with the help of other central banks around the world. The Bank of England and the European Central Bank joined it in saying rates would stay higher for longer. That also weighed on hopes for a Santa rally in December.
The S&P 500 was down more than 2% this week and 6% for the month. Friday’s trading included options expiring, adding to the day’s volatility, but the Dow climbed back from being down 547 points at its lowest. Amid broad-based selling, real estate and utilities were the lagging sectors. But big company stocks also fell including McDonald’s Corporation (NYSE:
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