Stocks on the Wall Street Stock Exchange in New York City fell sharply in early trading on Friday, extending their losses to a fourth straight day in one of their worst weeks since the start of the coronavirus pandemic. coronavirus.
Shares of Netflix lost more than 20% of their value
after the streaming service reported another quarter of subscriber growth below its goals.
Investors are concerned about rising inflation and how aggressive the Federal Reserve may be in raising interest rates to mitigate it.
Historically low rates helped the market recover after the COVID-19 hit.
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Rising costs have increased the belief that consumers will begin to cut back due to pressure on their pockets.
Retail sales data released by the government for the month of December showed
an unexpected decline in spending.
"The market is digesting how many monetary policy changes are going to happen during 2022," said Bill Northey, chief investment officer at Bank Wealth Management.
[Congress begins to negotiate another economic aid due to the impact of the omicron variant and the sharp rise in inflation]
Everyone will be watching closely when Fed officials meet to discuss their new policies next week.
Some economists are concerned that the central bank has been too slow to act to control inflation.
Consumer prices rose 7% in December compared to a year earlier, the biggest increase in nearly four decades.
