US equities wrap up a tough week as inflation bites

<p>On the day:</p><ul><li>S&P 500 -1.0%</li><li>DJIA -1.1%</li><li>Nasdaq Comp -1.7%</li><li>Russell 2000 -1.2%</li><li>Toronto TSX -0.3%</li></ul><p>On the week:</p><ul><li>S&P 500 -2.7% -- worst since Dec</li><li>Nasdaq Comp -3.3% -- worst since Dec</li><li>Russell 2000 -3.1%</li><li>Toronto TSX -1.7%</li></ul><p>It was a rough one for US stocks but not as bad as it looked midday. The S&P 500 fell 45 points to 3974 after falling as low as 3947. There were a series of higher lows throughout the day, indicating that dip buyers are still lurking. The 200-day moving average held today on the first challenge.</p><p>The bigger story is the bond market with US 2s closing at 4.81%, which is the highest since 2007.</p> This article was written by Adam Button at www.forexlive.com.

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