Stocks slipped to send Wall Street to a rare losing week, just its second in the last 16.
The S&P 500 fell 0.5% Friday after a report on inflation at the wholesale level came in hotter than expected. The benchmark index set a record high a day earlier. The Dow Jones Industrial Average fell 0.4%, and the Nasdaq composite fell 0.8%.
The inflation report was the latest reminder that the battle against rising prices isn’t over. Treasury yields rose after the data kept the door closed on hopes that the Federal Reserve could cut interest rates in March.
On Friday:
The S&P 500 fell 24.16 points, or 0.5%, to 5,005.57.
The Dow Jones Industrial Average fell 145.13 points, or 0.4%, to 38,627.99.
The Nasdaq composite fell 130.52 points, or 0.8%, to 15,775.65.
The Russell 2000 index of smaller companies fell 28.73 points, or 1.4%, to 2,032.74.
For the week:
The S&P 500 is down 21.04 points, or 0.4%.
The Dow is down 43.70 points, or 0.1%.
The Nasdaq is down 215.01 points, or 1.3%.
The Russell 2000 is up 22.75 points, or 1.1%.
For the year:
The S&P 500 is up 235.74 points, or 4.9%.
The Dow is up 938.45 points, or 2.5%.
The Nasdaq is up 764.30 points, or 5.1%.
The Russell 2000 is up 5.67 points, or 0.3%.
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