Stocks slid on Friday to cap a week of trading that saw fortunes between the major indexes diverge with the tech-heavy Nasdaq Composite (^IXIC) logging a modest gain of around 0.4% while the benchmark S&P 500 (^GSPC) fell 0.3% and the Dow Jones Industrial Average (^DJI) lost over 1.1% for the week.
On Friday, all three majors finished in red figures, with the S&P 500 dropping 0.16%, the Dow falling 0.03%, and the Nasdaq losing 0.35%.
Stocks had opened Friday’s session higher but forfeited those gains in late morning trade after consumer sentiment data from the University of Michigan on Friday showed a notable increase in consumer inflation expectations.
In the week ahead, investors will continue to closely track updates on the ongoing debt ceiling negotiations, with a key meeting between President Joe Biden and House Speaker Kevin McCarthy that had been set for Friday postponed until next week.
This article was written by and originally published on finance.yahoo.com