The main indices of wall street fell on Friday as technology and growth stocks led to a broad market decline amid concerns about the war in Ukraineas attention turned to the gathering of the Federal Reserve in the next week.
At the end of a volatile week, markets opened higher after the Russian president, Vladimir Putin, said there were “certain positive changes” in the talks with Ukraine, without giving details. But then stocks lost steam, with all 11 major S&P 500 sectors in the red.
“After seeing a rebound in the middle of the week, there is still a lot of uncertainty,” said Matt Maley, chief market strategist at Miller Tabak. “The market has had a couple of tough Mondays so I think short-term players want to take some bets off.”
The S&P 500 lost 55.21 points, or 1.30%, to 4,204.31 units, while the nasdaq Composite fell 286.15 points, or 2.18%, to 12,843.81 units. The Dow Jones Industrial Average it fell 229.88 points, or 0.69%, to 32,944.19 units.
Declines in shares of mega-cap growth companies like Manzana Inc and Tesla Inc dragged the S&P 500, which for the week lost 2.9% in its second straight week of declines. The dow jones saw its fifth straight week of decline.
The actions of Meta Platforms fell 3.9% after Russia opened a criminal case against the parent company of Facebook because the social network changed its rules on hate speech to allow users to call for “death to Russian invaders” in the context of the war with Ukraine.
Regarding developments in the Ukraine crisis, “you just don’t know what you’re going to see, so there’s no reason to spend the weekend being risky,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville. Virginia.