Wall Street is experiencing the most bitter week of the year – the stock market

Major US stock exchanges ended the session in negative territory, posting their worst weekly losses this year.

Investor sentiment was affected by the recent data on inflation, which supports maintaining the US Federal Reserve’s loose monetary policy.

The Dow Jones Industrial Average decreased by 1.09% 32,794.13 point, after its value fell by 2.99% in the week, reaching a minimum on January 5.

In contrast, the Standard & Poor’s 500 (S&P 500) put up 1.05% to 3,970.37 point, after its value fell by 2.99% in the same period, to renew its lows of January 20th.

The Nasdaq Technology Index posted a weekly loss of 3.33% and closed the Friday session down 1.69% to 11394.94 points, which is sliding to its lowest level in about a month.

The personal consumption expenditures index, a measure of US inflation, rose 0.6% in January compared to December, the highest level since June and higher than the 0.5% expected by economists in a Bloomberg poll.

The “core” of the index – which excludes food and energy – rose 0.6%. On a yearly basis, the index grew by 5.4% in January and the core grew by 4.7%.

These numbers support Fed tightening, at a time when investors expect a 25 basis point hike in the federal funds rate at the next Jerome Powell-led central bank meeting, although they acknowledge the possibility of more than 20 points. % of this increase is 50 basis points.

The week was further pressured by a downward revision of last year’s fourth-quarter US GDP growth from 2.9% to 2.7%, although growth was unchanged for the full year.

Investors are closely watching Boeing shares, which fell 4.8% after the US aviation regulator announced that the planemaker had temporarily suspended deliveries of the 787 Dreamliner.

In turn, Adobe sank 6.53%, with the news that the US Department of Justice will block the purchase of Figma for $20 billion by the owner of Photoshop.

On the other hand, Beyond Meat rose 10.15%, hitting its highest level since early February, after results were better than analysts.