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Markets Right Now: Stocks gain, but still end the week lower

Marin Independent Journal
Markets Right Now: Stocks gain, but still end the week lower

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks clawed back some of the ground they lost in a two-day rout but still suffered their biggest weekly loss in six months. Even with Friday’s moderate gains, major U.S. indexes lost about 4 percent for the week. A recent spike in interest rates has spooked investors who fear higher borrowing costs could slow down the economy. Longtime market favorites like Amazon and Apple came roaring back with gains of about 4 percent each. Several major banks including PNC Financial fell, however, and small-company stocks lagged far behind the rest of the market. The S&P 500 index rose 38 points, or 1.4 percent, to