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Wall Street has its worst week since March 2020

Financial Markets Wall Street
Posted at 3:49 PM, Jan 21, 2022

THE ASSOCIATED PRESS & SCRIPPS NATIONAL — A tumultuous week of trading ended with stocks falling again on Friday.

The S&P 500 fell 1.9%, and notched its worst weekly performance since March 2020. The Dow Jones Industrial Average fell 1.3% and the Nasdaq lost 2.7%.

This week alone, the Nasdaq suffered a 7.6% loss. According to CNBC, the Nasdaq is off to its worst start to a year since 2008.

Technology and communications stocks fell Friday. Netflix plunged over 20% after the streaming service delivered another quarter of disappointing subscriber growth.

Inflation fears and concerns about the impact of higher interest rates have prompted a cautious shift in the broader market after a solid year of gains in 2021.