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More worries about inflation helped spur a broad slide for stocks Friday that left most of the major indexes on Wall Street in the red for the week and wiped out much of the market’s gains from a strong rally a day earlier.
A report showing U.S. consumers raised their expectations for future inflation hurt markets worldwide, offering another signal the Federal Reserve may have to continue aggressively hiking interest rates to temper stubbornly hot inflation. The strategy raises the risk of a recession.
The S&P 500 fell 2.4 percent after having been up as much as 1.2 percent in the early going. The Dow Jones Industrial Average fell 1.3 percent and the Nasdaq composite ended 3.1 percent lower. Both indexes also turned lower after marching higher in early trading....