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AP National Business

Stocks extend losses for third week; Netflix plunges

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Published 3:14 PM

By DAMIAN J. TROISE
AP Business Writer

Stocks extended their losses on Wall Street Friday as major indexes finished with another weekly loss. The S&P 500 fell 1.9%, and notched its worst weekly performance since March 2020. The Dow Jones Industrial Average fell 1.3% and the Nasdaq lost 2.7%. Technology and communications stocks fell. Netflix plunged over 20% after the streaming service delivered another quarter of disappointing subscriber growth. Treasury yields fell. Inflation fears and concerns about the impact of higher interest rates have prompted a cautious shift in the broader market after a solid year of gains in 2021.

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