FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. – A rally for tech stocks Friday is applying some salve on Wall Street's rough week, one dominated by worries about a weakening economy.
Despite the gains, the S&P 500 is still on track for a loss of 1.6% this week. It's facing its first down week in the last three largely because of worries that the economy may not be able to avoid a scarring recession. Several reports on the economy came in, as the full weight of the Federal Reserve’s hikes to interest rates last year start to make their way through the system.
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