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MarketWatch MarketPulseSep 30, 2022
Stocks end lower Friday, cement biggest 9-month plunge in 20 years
U.S. stocks end sharply lower Friday, closing out a brutal month of September and posting their worst skid in the first 9-months of a year in two decades as higher rates and recession fears grip investors. The Dow Jones Industrial Average tumbled about 495 points Friday, or 1.7%, ending near 28,730 as heavy selling intensified into the closing bell. The S&P 500 index [s:spx] shed 1.5%, while the Nasdaq Composite Index finished down 1.5%. Losses for the week and month were far worse. The Dow led the major stock indexes lower with a 2.9% weekly skid, to end September down 8.8%. But the S&P 500 and Nasdaq recorded bigger monthly losses of 9.3% and 10.5%, respectively, according to FactSet data. The Federal Reserve's unwavering stance in September on raising rates until inflation finds a path down to its 2% target has been blamed for the sharp selloff. The task has been complicated by a roaring labor market and soaring home prices, which keep pressure on shelter costs. Home prices have only begun to show signs of a retreat after gaining 45% nationally during the pandemic, which will keep focus on next week's jobs update for August. For the year so far, the Dow fell 21%, the S&P 500 skid 24.8% and the Nasdaq shed 32.4%, which marked their worst first 9-month fall in a year since 2002, according to Dow Jones Market Data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseSep 29, 2022
Coronavirus tally: Global case tally falls 11% in latest week as fatalities decline by 18%
The global tally of COVID cases fell 11% in the week through Sept. 25 from the week earlier, while the number of fatalities fell 18% to just over 8,900, the World Health Organization said in its latest weekly update. The BA.5 omicron subvariant continued its dominance, accounting for 81.2% of cases sequenced and entered into a global database, the agency said. "There continues to be increased diversity within Omicron and within its descendent lineages. A number of these Omicron descendent lineages are under monitoring," said the update. In the U.S., known cases of COVID are continuing to ease and now stand at their lowest level since late April, although the true tally is likely higher given how many people are testing at home, where the data are not being collected. The daily average for new cases stood at 48,806 on Wednesday, according to a New York Times tracker, down 22% from two weeks ago. The daily average for hospitalizations was down 14% at 28,765, while the daily average for deaths is down 12% to 404. Globally, the confirmed case tally rose above 616.6 million on Thursday, according to data aggregated by Johns Hopkins, while the death toll is above 6.54 million with the U.S. leading the world with 96.2 million cases and 1,058,506 deaths.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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