US stocks end volatile week with ugly session


Wall Street stocks finished an ugly session sharply lower following disappointing results from Amazon, while markets grappled with worries over inflation and higher interest rates.

The broad-based S&P 500 finished at 4,131.93, down 3.6 percent, tilting the index into the red for the week.

The Dow Jones Industrial Average shed 2.8 percent to close at 32,977.21, while the tech-rich Nasdaq Composite Index tumbled 4.2 percent to 12,334.64.

Amazon plunged 14.1 percent after offering a disappointing forecast as it battles rising costs amid slowing growth compared with earlier in the pandemic. The company reported its first loss since 2015.—AFP


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