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AP National Business

Stocks fall, head for another weekly loss; Netflix plunges

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KMIZ

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Published 9:39 AM

By DAMIAN J. TROISE
AP Business Writer

Stocks fell in morning trading on Wall Street Friday as every major index heads for another weekly loss amid concerns about rising inflation and interest rates. The S&P 500 fell 1.3% and the Dow Jones Industrial Average fell 0.7%. The Nasdaq fell 1.9%, slipping further into a correction, or more than 10% below its peak. 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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