US stocks have recorded their biggest weekly fall in more than two months, declining further on Friday after traders were shaken by the latest evidence of stubbornly high inflation in the world’s largest economy.
The S&P 500 index closed down 1.1 per cent in New York on Friday, bringing its losses for the week to 2.7 per cent. The tech-heavy Nasdaq Composite was 1.7 per cent lower for the day, for a 3.3 per cent decline for the week. The weekly declines were the sharpest since early December.
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