Wall Street’s main indexes slumped to close well down on Friday, as rattled investors continued repositioning themselves to reflect fears the U.S. Federal Reserve’s hawkish rate policy to curb inflation will push the American economy into recession.
The Dow narrowly avoided ending more than 20 percent lower than its Jan. 4 record all-time closing peak of 36,799.64 points, meaning the blue-chip index did not attain a bear market label, according to a widely used definition.
