Alva Review-Courier -

Stocks stumble 2.8% as worries about interest rates worsen

 

April 22, 2022



NEW YORK (AP) — Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank's efforts to fight inflation.

Several disappointing profit reports from companies also shook what's been the market's main pillar of support.

The S&P 500 sank 2.8% and marked its third losing week in a row. The Dow Jones Industrial Average slumped 2.8%, its biggest drop in 18 months, after briefly skidding more than 1,000 points. The Nasdaq also had its worst day in nearly seven weeks, clo...



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