Why Stocks Plunged Last Week
  • Print

Published Friday, February 2, 2018 at: 7:00 AM EST

Interest rates rose on inflation fears, cratering stocks for the week. On Friday, the Standard & Poor's 500 stock index plunged by 2.1%, capping a 3.9% drop for the week, the biggest weekly loss in two years. It was a week of big financial news: Janet Yellen exited as chair of the U.S. Federal Reserve Board of Governors, ceding control of the nation's central bank to Jerome Powell; the political crisis in Washington, D.C. deepened, adding to investor jitters; and employment costs soared while new figures on jobs and wages stoked inflation fears. The yield on a 10-year U.S....

To Read the Full Story, Subscribe or

This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.