On Friday, the stock market fell again, closing out another losing week and continuing its rough start to 2022. Again, the NASDAQ was hit the hardest with Friday's selloff sending the tech-heavy index to its worst week since March 2020.
The NASDAQ declined -2.72% to close at 13,768.92. The DOW fell 450.02 points or -1.30% to 34,265.37, and the S&P 500 slid -1.89% to end the day at 4,397.94.
The Nasdaq posted a -7.6% loss for the week and now sits more than 14% below its November record close. The DOW and S&P 500 closed out their third straight week of losses of -4.58% and -5.68%, their worst weeks since 2020. The S&P 500 is off more than 8% from its record close.
Bitcoin was also hit hard on Friday as investors brace for the Fed and dump riskier assets with higher rates. As a result, the digital asset fell more than -15% to around $36,449 on Friday.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 4,818.62
- Dow (INDEX:DJI): 36,952.65
- NASDAQ (NASDAQ:COMP): 15,852.14
- U.S. Dollar (ICE:DX): 96.33
- Gold (NYMEX:GC.G22): 1,828.40
- Crude Oil (NYMEX:CL.H22): 85.69
- Bitcoin (BITCOIN:BITSTAMPUSD): 47,989.00