Wall Street closed lower after a report revealed inflation is slowing, though not by as much as hoped. The S&P 500 fell 0.7% Friday, marking its initially losing week in the last 3.
The weakpoint came after the U.S. federalgovernment reported that rates at the wholesale level were 7.4% greater in November than a year earlier. That’s a downturn from October however evenworse than financialexperts anticipated.
High inflation, along with the Federal Reserve’s economy-crunching action to it, haveactually been the primary factors for the stock market’s discomfort