© Reuters.
By Liz Moyer
Investing.com — U.S. stocks were falling on Friday after comments from Federal Reserve officials renewed fears about interest rates.
At 9:48 ET (14:48 GMT), the was down 124 points or 0.4%, while the was down 0.8% and the was down 1.2%.
Hotter-than-expected on Thursday prompted fears that the Fed would keep its monetary restrictive for the rest of the year. And St. Louis Fed President said he wouldn’t rule out supporting a half-percentage point rate increase at the March meeting. Many market watchers have been betting on a quarter of a percentage point increase.
Bullard said Thursday he supported the idea of a in February to bring the benchmark rate above 5% as soon as possible. Cleveland Fed President also said she saw a strong case for a bigger increase.
Richmond Fed President and Fed Gov. are scheduled to speak today.
Stocks have gyrated this week after the economic data pointing to as well as a tight labor market.
Shares of Moderna (NASDAQ:) fell 6.1% after its experimental mRNA flu vaccine wasn’t as effective as an approved vaccine against influenza B.
DraftKings (NASDAQ:) shares jumped 17.1% after the gambling company a smaller-than-expected loss in the quarter and raised its outlook for 2023, benefiting as more states legalize sports betting.
Deere & Company (NYSE:) shares rose 5% after it raised guidance as farmers continue to buy new agriculture equipment.
Oil fell. was down 3.9% to $75.44 a barrel, while was down 3.5% to $82.15 a barrel. was down 1% to $1840.