Stocks fall, as Wall Street heads for another losing week
By STAN CHOE
AP Business Writer
NEW YORK (AP) — Stocks are slumping again on Friday as the sharp, recent surge for interest rates keeps weighing on Wall Street. The S&P 500 was 0.9% lower after the first few minutes of trading. It’s on pace to close out a third straight losing week. A day earlier, Wall Street seemed set for healthy gains for the week after more big companies reported strong profits for the start of the year. But stocks swung from a gain to a loss as the chair of the Federal Reserve indicated it may indeed hike short-term interest rates by double the usual amount at upcoming meetings, starting in two weeks.
