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AP National Business

Stocks wobble, head for another weekly loss; Netflix plunges

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Published 11:03 AM

By DAMIAN J. TROISE
AP Business Writer

Stocks wobbled between gains and losses on Wall Street Friday as major indexes head for another weekly loss. The S&P 500 fell 0.9% and the Dow Jones Industrial Average fell 0.5%. The Nasdaq fell 1.4%, slipping further into a correction, or more than 10% below its peak. 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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