Stocks fell in afternoon trading on Wall Street Friday as major indexes head for their second weekly loss in a row after another bout of turbulence shook markets.
The S&P 500 fell 1%, the Dow Jones Industrial Average fell 0.8% and the Nasdaq fell 1.5%. Investors have been watching the latest developments in Ukraine, where Russia has been amassing troops on the border, as well as more corporate earnings reports.
This week investors also received the latest confirmation from the Federal Reserve that it intends to move decisively to fight inflation with higher interest rates.
The Wall Street Journal reported on Friday that the U.S expects an attack from Russia on Ukraine in the coming days. And Joe Biden reportedly is expected to move more U.S. troops to the region.
As CNBC reported, Friday was a volatile day for the markets for a number of reasons, including a warning that trillions of dollars in ETFs, indexes, options and futures were set to expire.
St. Louis Fed President James Bullard has warned that without aggressive action, inflation could get out of control if there are not rate hikes, CNBC reported on Thursday.