{"id":4472,"date":"2023-10-23T04:45:48","date_gmt":"2023-10-23T04:45:48","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/wall-st-ends-sharply-lower-posts-weekly-losses-mideast-fears-increase\/"},"modified":"2023-10-23T04:45:48","modified_gmt":"2023-10-23T04:45:48","slug":"wall-st-ends-sharply-lower-posts-weekly-losses-mideast-fears-increase","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=4472","title":{"rendered":"Wall St ends sharply lower, posts weekly losses; Mideast fears increase"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<p><span class=\"text\">\u00a9 Reuters. FILE PHOTO: A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. REUTERS\/Brendan McDermid\/File Photo<\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>By Caroline Valetkevitch<\/p>\n<p>NEW YORK (Reuters) &#8211; U.S. stocks ended sharply lower for the day and week on Friday as investors worried about more interest rate hikes and the Israel-Hamas conflict spreading.<\/p>\n<p>The S&amp;P 500 and Nasdaq fell more than 1% each. All of the &#8216;s 11 sectors ended lower in broad-based selling, with technology and financials among the biggest drags.<\/p>\n<p>Israel leveled a northern Gaza district as its conflict with Hamas intensified. The latest outbreak of violence began Oct. 7 with attacks by Hamas militants.<\/p>\n<p>&#8220;Geopolitically, with the weekend, investors are going to be cautious and taking money off of the table,&#8221; said Alan Lancz, president of Alan B. Lancz &amp; Associates Inc, an investment advisory firm in Toledo, Ohio.<\/p>\n<p>The S&amp;P 500 financial index was down 1.6% while the KBW regional banking index fell 3.5%. Shares of Regions Financial (NYSE:) slid 12.4% after its profit missed analysts&#8217; average estimate.<\/p>\n<p>&#8220;That whole sector is under a cloud, with higher rates. We might not have that soft landing and that&#8217;s going to hurt,&#8221; Lancz said.<\/p>\n<p>The benchmark  eased on Friday, a day after crossing 5% for the first time since July 2007 in the wake of comments by Federal Reserve Chair Jerome Powell. He said the U.S. economy&#8217;s strength and tight labor markets could require tougher borrowing conditions to control inflation.<\/p>\n<p>The  fell 286.89 points, or 0.86%, to 33,127.28, the S&amp;P 500 lost 53.84 points, or 1.26%, to 4,224.16 and the  dropped 202.37 points, or 1.53%, to 12,983.81.<\/p>\n<p>For the week, the Dow was down 1.6%, the S&amp;P 500 fell 2.4% and the Nasdaq slid 3.2%.<\/p>\n<p>The Cboe Volatility index closed at its highest level since March 24.<\/p>\n<p>SolarEdge (NASDAQ:) shares slumped 27.3% after it warned of significantly lower revenue in the fourth quarter.<\/p>\n<p>Shares of credit card company <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> American Express <\/span><\/span> (NYSE:) fell 5.4% even though its third-quarter profit beat expectations.<\/p>\n<p>The third-quarter U.S. earnings season is well under way, with 86 companies in the S&amp;P 500 having reported. Results from some mid-sized banks have raised concerns that the boost to lenders from the Fed&#8217;s interest rate hikes was tapering off.<\/p>\n<p>Volume on U.S. exchanges was 11.05 billion shares, compared with the 10.58 billion average for the full session over the last 20 trading days.<\/p>\n<p>Declining issues outnumbered advancers on the NYSE by a 2.63-to-1 ratio; on Nasdaq, a 2.28-to-1 ratio favored decliners.<\/p>\n<p>The S&amp;P 500 posted no new 52-week highs and 38 new lows; the Nasdaq Composite recorded nine new highs and 420 new lows. <\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/economy\/futures-inch-lower-as-treasury-yields-surge-earnings-in-focus-3203940\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. FILE PHOTO: A street sign for Wall Street is seen in the financial district in New York, U.S., November 8,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":4473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-4472","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wall St ends sharply lower, posts weekly losses; Mideast fears increase | inFundPros<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. 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