Stock Market Today: Stocks extend slide on growth worries; UnitedHealth tumbles
Weak growth readings, paired with renewed inflation concerns, has stocks looking at heavy declines into the final hours of trading.
U.S. stocks extended declines in Friday afternoon trading, putting the S&P 500 into negative territory for the week, as weak private sector activity data offset a modest pullback in Treasury bond yields and solid gains for global stocks tied to a rally in China tech.
Updated at 1:38 PM EST
Friday (un)funnies
Stock declines are accelerating into the final hours of trading, with the S&P 500 down 96 points, or 1.4% and the Nasdaq giving up 335 points, or 1.68%, following weaker PMI data, a sharp mover higher in consumer inflation expectations and a corresponding slump in sentiment.
The Dow was last marked 715 points lower while 10-year Treasury note yield extended their Friday slide to 7 basis points, and were last trading at 4.421%.
UMich: While sentiment fell for both Democrats and Independents, it was unchanged for Republicans, reflecting continued disagreements on the consequences of new economic policies.
"fears that tariff-induced price increases are imminent" pic.twitter.com/ZwqMlmembk— Mike Zaccardi, CFA, CMT