The S&P 500 Index ($SPX) (SPY) Friday closed down -0.65%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.49%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.15%.
Stocks on Friday posted moderate losses, with the Nasdaq 100 falling to a 3-week low. Inflation concerns pushed the 10-year T-note yield to a 2-week high after Friday’s economic news showed the US Feb import price index ex-petroleum unexpectedly increased. That added to this week’s disappointing CPI and PPI reports, bolstering expectations for the Fed to delay interest rate cuts further.
