The S&P 500 fell for the fifth day, its worst stretch since February.
US stocks fell for the fifth day in a row on Friday, ending the week with the S&P 500 down 1.7 percent in its longest losing streak since February.
For the day, the benchmark US index S&P fell 0.8 percent.
Apple, which has a major impact on the index as the largest company in the S&P 500 by market capitalization, dropped 3.3 percent after a federal judge ruled the company would allow app developers in its App Store to use other methods of paying customers. ordered to stop directing. their services. Google, which is locked in its own court case over paying for apps, fell 1.9 percent. The tech-heavy Nasdaq Composite ended the day down 0.9 percent.
But the disadvantages weren’t limited to the tech sector. A day after President Biden announced that companies counting on the end of pandemic-related precautions were in shock, he was resorting to what would effectively be a vaccine mandate for millions of American workers.
American Airlines was one of the worst-performing stocks of the day, down 6.2 percent, and United Airlines and Delta Air Lines performed almost as poorly. Casino company Penn National Gaming fell 4.9 percent, and Las Vegas Sands was down 4.2 percent.
Health care giant Cigna fell 4.3 percent. Grocery store chain, Kroger, fell 7.5 percent when it reported that sales in the three months ended Aug. 14 declined from the same period last year.
Prices for U.S. producers rose 0.7 percent in July to August, the Labor Department reported Friday, a sign of inflation continuing. According to the Labor Department, the producer price index was up 8.3 percent from a year earlier, the biggest jump 12 months after the figures were first calculated in 2010.
In a call after its financial report, Kroger executives said the cost of products was rising and they believed “inflation for the full year will be higher than originally thought.”
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