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The S&P 500 Index has given back more than half of its post-election rally as Friday’s selloff steepens, with sticky inflation and hawkish comments from the Federal Reserve weighing on sentiment.
The broad equities benchmark was down 1.4% at midway through the session, putting it on track to lose 2.2% for the week, its worst weekly performance in two months. The tech-heavy Nasdaq 100 Index dropped 2.5%.
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