NYSE Snaps Three-Week Rising Streak

The New York Stock Exchange (NYSE) closed lower on Friday, erasing earlier gains after data showed increased fears over inflation reflecting negatively on consumer confidence.

All the major indices finished the week in losses, ending a three-week rising streak that saw multiple record-breaking levels.

The Dow Jones Industrial Average lost 299.17 points, or 0.86%, to finish at 34,687.85 points, losing 0.5% for the week.

Meanwhile, the S&P 500 index slipped 32.87 points, or 0.75%, to close at 4,327.16 points, plunging by 1% on a weekly basis.

The Nasdaq Composite declined by 115.90 points, or 0.80%, to settle at 14, 427.24 points, finishing the week with the biggest loss of 1.9%.