By STAN CHOE and ALEX VEIGA – AP Enterprise Writers
NEW YORK (AP) — The inventory market ended an unusually turbulent week with its fifth straight weekly decline. The bumpy and principally decrease journey got here as buyers concern the Federal Reserve will fail to engineer a clean cooling of the economic system with out letting inflation run amok. The S&P 500 ended down 0.6% on Friday, after partially getting back from a bigger 1.9% loss. The Federal Reserve is shifting aggressively to withdraw the helps to the economic system put in place in the course of the pandemic. That has helped ship bond yields, which affect mortgage charges, to the very best ranges since 2018, and they’re positive to rise.
THIS IS A LAST MINUTE UPDATE. The earlier AP story follows beneath.
NEW YORK (AP) — Shares fell Friday as Wall Road weighs the best way to interpret a powerful U.S. jobs report amid considerations the Federal Reserve might trigger a recession in its marketing campaign to stem inflation.
The S&P 500 was down 1.3% in afternoon buying and selling after information confirmed the US. employers proceed to rent shortly,
and staff are receiving comparatively giant raises, albeit beneath inflation.