Shares fall for third week with results, risks rates

(Bloomberg) US stocks fell on Friday, completing their third weekly decline, as disappointing corporate results and prospects for aggressive interest rate increases weighed on confidence. The S&P 500 fell by 2.8%, the biggest drop since March 7, prompting the benchmark to suffer a weekly pullback in the biggest loss streak for the period since January. The high-tech Nasdaq 100 drops left the index down 9% so far in April, and on track for its worst month since 2008. For its part, the so-called “fear indicator” of the market — the Cboe or VIX volatility index — soared to a one-month high.

Here are some of the main movements in the markets:

Shares

• The S&P 500 fell 2.8% at 4pm New York time
• The Nasdaq 100 fell 2.6%
• The Dow Jones Industrial Average fell 2.8%
• The MSCI World index fell 2.5%

Currencies

• The Bloomberg Dollar Spot index rose

0.7%

• Britain's 10-year bond yield fell by five basis points to 1.96%

Commodities

• West Texas Intermediate crude fell 2% to US$101.73 a barrel
• Gold futures fell 0.7% to $1,934.70 an ounce

Original Note:

Stocks Fall for Third Week on Earnings, Rate Risks: Markets Wrap

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