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S&P 500 and Nasdaq post worst weeks since pandemic started as Netflix’s woes deepen the slide

Wall Avenue’s principal indexes ended sharply decrease on Friday, as Netflix shares plunged after a weak earnings report.

It capped a brutal week for shares that noticed the S&P 500 and Nasdaq log their greatest weekly share drops because the begin of the pandemic in March 2020.

The benchmark S&P 500 posted its third straight week of declines, ending 8.3 per cent down from its early January report excessive.

Losses additionally deepened for the Nasdaq after the tech-heavy index earlier within the week confirmed it was in a correction, closing down over 10 per cent from its November peak.

The Nasdaq has now fallen 14.3 per cent from its November peak and on Friday closed at its lowest degree since June.

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