Stock market news live updates: S&P 500, Nasdaq fall to four-week low as investors weigh bank earnings, inflation data

Stock market news live updates: S&P 500, Nasdaq fall to four-week low as investors weigh bank earnings, inflation data

U.S. stocks fell Thursday to cap another losing week on Wall Street as investors digested a flurry of bank earnings and reeled from more red-hot CPI numbers.

The S&P 500 and tech-heavy Nasdaq Composite each settled at four-week lows, recording declines of 1.2% and 2.2%, respectively. The Dow Jones Industrial Average retreated from a slight advance earlier in the session to close 0.3% lower. Meanwhile, Treasury yields climbed higher, with the 10-year benchmark marking its biggest one-week jump to hit 2.8%, the highest level since December 2018.

The majority of U.S. market indexes finished lower for the second straight week as war in Eastern Europe, inflationary pressures and anticipation for more combative measures by the Federal Reserve to tame rising price levels continued to weigh on sentiment.