U.S. stocks dropped Thursday, extending a streak of volatility in a market driven by concerns that the Federal Reserve will obstruct development in its effort to bring inflation under control.
The S&P 500 decreased 1.8% after the broad-market index shut down 1.6% on Wednesday. The Dow Jones Industrial Average fell 1.8%, or 573 points. The Nasdaq Composite Index decreased 1.9%. All 3 indexes are on track for weekly losses of more than 4.9%.