NEW YORK — Stocks on Wall Street shook off a downbeat start and ended broadly greater Friday, though the rebound was not enough to eliminate their losses for the week.
The S&P 500 increased 1.1% after havingactually been down 0.9% in the early going. The gain snapped a four-day losing streak for the criteria index, which still published its 4th losing week in the last 5.
The Dow Jones Industrial Average increased 1%, while the tech-heavy Nasdaq acquired 0.9% after a sell-off in innovation stocks reduced.
The newest choppy trading comes a day after the S&P 500 closed out its worst quarter giventhat the start of the pandemic in early2020 Its efficiency in the veryfirst half of 2022 was the worst giventhat the veryfirst 6 months of1970
The S&P 500 hasactually been in a bear market because last month, significance an extended decrease of 20% or more from its most current peak. It’s now down 20.2% from the peak it set at the start of this year.
Bond yields fell substantially. The yield on the 10-year Treasury, which assists set homemortgage rates, fell to 2.89% from 2.97% Thursday. The yield on the 2-year Treasury slipped to 2.83% from 2.92%.
The market’s deep depression this year shows financiers’ stressandanxiety over rising inflation and the possibility that greater interest rates might bring on a economicdownturn.
“What we’re seeing today is reflective of truly what we’re going to see here in July, which is continued pressure on the markets, unless we see outsized financial reports on tasks or inflation, or some more significant modification in Fed policy,