Wall Street ended its first losing week in four with a volatile Friday, as investors braced for the Federal Reserve to tighten the economy’s brakes more aggressively in order to combat inflation. 

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The S&P 500 index sank 11.93 points, or 0.3%, to 4,488.28 after wriggling throughout much of the day. The Dow Jones Industrial Average climbed 137.55 points to 34,721.12, up 0.4%. Meanwhile, the Nasdaq composite fell 186.30 points, or 1.3%, to 13,711.00, due to losses in tech firms.

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For the week, the S&P 500 lost 1.3%. Stocks have slumped as the Federal Reserve swings more aggressively toward fighting inflation by raising short-term interest rates and making other moves. It’s a sharp reversal from keeping rates at record lows to stimulating the economy and carrying it through the pandemic.

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Investors learned this week that the Fed may hike short-term rates by double the usual amount at several upcoming meetings and that it came close to doing so last month. The last time that happened was in 2000. The Fed also indicated in the minutes from its last meeting that it’s likely to shrink its massive stockpile of bonds by up to $95 billion monthly, starting as soon as next month.

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A barrel of benchmark U.S. crude rose $2.23 to settle at $98.26 on Friday. It has swung wildly in recent weeks and briefly topped $130 last month. Brent crude, the international standard, added $2.20 to settle at $102.78 per barrel.

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Much of the market’s focus has been on the bond market, where expectations for a more aggressive Fed have sent yields to their highest levels in three years. The 10-year yield climbed to 2.71% from 2.65% late Thursday. It was at just 1.51% at the start of the year.