Wall Street extends losses as inflation fear lingers

Updated : February 27, 2021 08:42 AM IST

On Friday the S&P 500 gave back 0.5 percent, and the Dow Jones Industrial Average lost 1.5 percent.

Treasury yields fell after shooting sharply higher over the last few weeks, something that has unsettled financial markets generally.

Stocks ended a bumpy day mostly lower on Wall Street.

Technology stocks recovered slightly following several days of heavy selling, but the Nasdaq still posted its biggest weekly loss since October. On Friday the S&P 500 gave back 0.5 percent, and the Dow Jones Industrial Average lost 1.5 percent. Treasury yields fell after shooting sharply higher over the last few weeks, something that has unsettled financial markets generally.

Investors continued to watch Washington, where Congress is expected to vote on President Joe Bidens stimulus package. The yield on the 10-year Treasury note fell to 1.42 percent from 1.51 percent a day earlier.

On Friday

The S&P 500 fell 18.19 points, or 0.5 percent, to 3,811.15.

The Dow Jones Industrial Average fell 469.64 points, or 1.5 percent, to 30,932.37.

The Nasdaq rose 72.91 points, or 0.6 percent, to 13,192.34.

The Russell 2000 index of smaller companies rose 0.88 points, or less than 0.1 percent to 2,201.05.

For the week

The S&P 500 is down 95.56 points, or 2.4 percent.

The Dow is down 561.95 points, or 1.8 percent.

The Nasdaq is down 682.12 points, or 4.9 percent.

The Russell 2000 is down 65.64 points, or 2.9 percent.

Also Read: Explainer: Why rising rates are unsettling Wall Street?

For the year

The S&P 500 is up 55.08 points, or 1.5 percent.

The Dow is up 325.89 points, or 1.1 percent.

The Nasdaq is up 304.06 points, or 2.4 percent.

The Russell 2000 is up 226.20 points, or 11.5 percent.

Published : February 27, 2021 08:39 AM IST

Wall Street extends losses as inflation fear lingers

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