Economy

US stocks close mixed, S&P 500 records worst week since 2020

Still in bear market territory, S&P 500 dives 6% for worst performance in over 2 years

Ovunc Kutlu   | 17.06.2022
US stocks close mixed, S&P 500 records worst week since 2020

ANKARA

The US stock market closed mixed on Friday, while the S&P 500 recorded its worst week since 2020 with investors' fears of recession.

The index added 8 points, or 0.22%, to finish at 3,674 points, but recorded a 6% weekly decline, having its worst weekly performance since March 2020.

S&P 500 is still in a bear market territory as investors are worried that the Federal Reserve's aggressive monetary tightening could cause recession in the world's biggest economy.

The tech-heavy Nasdaq rose 152 points, or 1.43%, to close at 10,798.

The Dow Jones, on the other hand, fell 38 points, or 0.13%, to end the day at 29,888.

The VIX volatility index, also known as the fear index, was down 5.5% to 31.13.

The dollar index rose almost 1% to 104.63, but the 10-year US Treasury yield fell 2.2% to 3.232%.

Precious metals were down, with gold falling 0.8% to $1,841 and silver losing 1.2% to $21.69.

Crude oil prices plummeted by around 6%.

Global oil benchmark Brent crude was trading at $113.16 for a 5.5% loss, while US benchmark West Texas Intermediate (WTI) was at $109.94 -- a 6.5% decrease.

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