Stocks fall on Wall Street, sinking indexes for the week

Financial Markets Wall Street
Posted at 2:03 PM, Apr 29, 2022
and last updated 2022-04-29 14:03:52-04

NEW YORK (AP) — Stocks fell in afternoon trading on Wall Street Friday, putting major indexes back into the red for the week after several sharp moves both up and down over the past few days.

The S&P 500 fell 2%, the Dow Jones Industrial Average fell 1.4% and the Nasdaq fell 2.1%.

The market is also heading for steep losses in April as traders fret about the tough medicine the Federal Reserve is using in its fight against inflation: higher interest rates.

That will increase borrowing costs across the board.

Bond yields rose after another hot reading on inflation.

Amazon slumped after reporting a rare quarterly loss.