Another difficult week for the U.S. stocks ended with the shares of oil producers sliding and Ford Motor Co. tumbling further on concerns over supply shortages.
On Friday, the S&P 500 SPX fell 1.7%, for a one week decline of 4.6%, as investors fretted about the Federal Reserve's interest-rate increases to temper inflation.
All but 17 of the components of the benchmark index showed declines for the week. West Texas Intermediate crude oil for November delivery CL. It was a one-week decline of 7.1%, and dropped nearly 6% to settle at $78.74 a barrel on the New York Mercantile Exchange.
U.S. oil prices fell below $80 a barrel to their lowest point since January due to recession fears.
According to Simon Wong, the macro environment is bad for oil prices. Wong said that the strong dollar is making oil more expensive for other countries and hurting demand for crude oil, which is priced in dollars. The energy sector had the worst showing for the week, as you can see below.
Eight of the 20 stocks in the S&P 500 that fell the most for the week were in the energy sector: eight of the 20 stocks in the S&P 500 fell the most for the week.
Then read Tomi Kilgore's detailed guide to the wealth of information available for free on MarketWatch quote pages.
The Ford F stock price fell by another 3.6% on Friday for a one-week slump of 16.5%, after The Wall Street Journal reported that the company had delayed delivery of some vehicles because it didn't have enough blue oval badges to put on them. This follows Ford's warning on Monday that it would end the third quarter with more unfinished vehicles than originally anticipated.
The energy sector of the S&P 500 declined the most for the week, but remains one of only two sectors showing gains for 2022:
Don t miss:Exxon, Take-Two and Tesla are some of the exceptions to this big problem for stock prices.