U.S. stocks finished lower on Friday, capping off the worst week for the S&P 500 since early September, as creeping doubts about a December interest-rate cut by the Federal Reserve helped interrupt a postelection rally.
Economic data on inflation and retail sales coupled with comments from senior Fed officials, including Chair Jerome Powell, about there being no big rush to cut rates weighed on investors’ minds this week. Investors also cast a wary eye toward the Treasury market, as the yield on the 10-year note touched a six-month high earlier on Friday, FactSet data showed.
Here is where stocks finished, according to FactSet.
The S&P 500 closed 78.55 points, or 1.3%, lower at 5,870.62.
The Nasdaq Composite was down by 427.53 points, or 2.2%, at 18,680.12.
The Dow Jones Industrial Average shed 305.87 points, or 0.7%, at 43,444.99.
