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Kuwaiti newspaper newspaper | US stocks end a tough week

Indices fall as inflation rises

US stocks fell at the end of Friday’s trading, as rising inflation expectations kept fears that the path of a strong federal interest rate hike could lead to a recession.

In the final session of a volatile week, stocks opened higher before changing course after data from the University of Michigan showed consumer sentiment improved in October, but inflation expectations worsened as gasoline prices rose.

And data showed Thursday that the consumer price index, which measures inflation, is still very high.

The Standard & Poor’s 500 index lost 84.18 points, or 2.29 percent, to close at 3585.73 points, while the Nasdaq Composite Index lost 325.82 points, or 3.06 percent, to 10,323.33 points. The Dow Jones Industrial Average fell 368.69 points, or 1.23 percent, to 29,670.03 points.

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