U.S. stocks remained sharply lower Friday afternoon as investors sold assets in the wake of comments from a Fed official following the central bank’s updated outlook this week for inflation and the economic recovery from COVID.
Friday also marks quadruple witching day, which is the simultaneous expiration of single-stock options, single-stock futures, stock-index options and stock-index futures.
The U.S. government is closed on Friday after President Joseph Biden signed a bill Thursday making Juneteenth a national holiday commemorating the end of slavery in the U.S. However, the stock and bond markets remain open for business.
How are stock benchmarks trading?
The Dow Jones Industrial Average
was trading 416 points, or 1.2%, lower to reach 33,409, and had hit an intraday low at 33,291.33.
The S&P 500