- Wall Street finished lower on Friday, weighed down by Big Tech as investors worried about the Omicron coronavirus variant and digested the Federal Reserve's decision to end its pandemic-era stimulus faster.All three main U.S. stock indexes ended with a decline for the week after the Fed on Wednesday signaled three quarter-percentage-point interest rate hikes by the end of 2022 to combat surging inflation.Nvidia dropped 2.1% and Alphabet lost 1.9%, both weighing on the S&P 500 and Nasdaq.The S
Wall Street ends lower as retailers stoke inflation fears
- Wall Street benchmarks ended Wednesday lower on inflation fears and supply chain concerns stemming from retailers' earnings, with investors betting the Federal Reserve will raise interest rates sooner than expected to tame rising prices.$Target Corp$ was the latest big-name retailer to report positive results, upping its annual forecasts and beating profit expectations, citing an early start to holiday shopping.But shares of the firm fell 4.7%, tracking declines in those of peer $Walmart$ on
After-Hours Stock Movers: Atea Pharmaceuticals, Chembio Diagnostics and more
$Atea Pharmaceuticals, Inc.$ 9.8% LOWER; announced that the strategic collaboration pursuant to which it was jointly developing AT-527 for the treatment of COVID-19 with Roche will be terminating. Upon termination, the rights and licenses granted by Atea to Roche under the strategic collaboration will be returned to Atea, and Atea will have full rights to continue the clinical development and future commercialization of AT-527 worldwide.$Chembio Diagnostics$, Inc. 8.7% HIGHER; announced the su