US stocks ended sharply lower on Friday as better-than-expected inflation data led to losses in the third quarter.
The latest personal consumption expenditure (PCE) price index data showed a 0.3% rise in August after falling 0.1% in the previous month.
It was the third straight weekly decline for the S&P 500 and the Dow Jones.
shares of apple inc AAPL and Amazon.com, Inc. AMZN was trading lower on Friday.
The Nasdaq 100 fell 1.73% to close at 10,971.22 on Friday, while the S&P 500 was down 1.51%. The Dow Jones fell around 500 points to settle at 28,725.51 in the previous session.
majority of sectors in the S&P 500 ended on a lower note, with information technology and consumer discretionary stocks posting the biggest falls on Friday. However, real estate was the worst performing sector in the previous session.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 2.7% to 32.69 points on Friday.
What is the CBOE Volatility Index?
The CBOE Volatility Index, popularly known as the VIX, is a measure of stock market volatility expectations based on call and put options of the S&P 500 index options.
