Wall Street Ends Down After Mostly Negative Week

Wall Street finished lower on Friday, weighed down by Big Tech as investors worried about the Omicron coronavirus variant and digested the Federal Reserve’s decision to end its pandemic-era stimulus faster. All three main U.S. stock indexes ended with a decline for the week after the Fed on Wednesday signaled three quarter-percentage-point interest rate hikes by the end of 2022 to combat surging inflation. Nvidia dropped 2.1 percent and Alphabet lost 1.9 percent, both weighing on the S&P 500 and Nasdaq. The S&P 500 growth index lost 0.7 percent and the value index declined 1.4 percent. All of the 11 major S&P 500 sector indexes fell, with financials leading the way down with a 2.3 percent drop. Energy lost 2.2 percent. Adding to uncertainty, Pfizer said on Friday the pandemic could extend through next year. European countries geared up for further travel and social restrictions. Traders also pointed to year-end …

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