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Stocks slumped on Friday and were on pace for another losing week as investors feared the Federal Reserve’s aggressive hiking campaign to fight inflation will lead to an economic downturn. The Dow Jones Industrial Average fell by 408 points, or 1.36%, while the S&P 500 slid 1.7%. The Nasdaq Composite lost 2%. Friday marked the fourth negative session in a row for the major averages, with the Dow falling below its June closing low and the 30,000 mark.
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