Page 27 - Arkets Wrap News Today : Breaking News, Live Updates & Top Stories | Vimarsana

For the week, the Dow finished down 1.85%, the S&P 500 tumbled 2.7%, and the Nasdaq crashed 3.8%.

Of the 42 S&P 500 companies that have reported earnings so far, overall results are beating estimates by a median of 6%, according to Fundstrat.

Oil prices fell more than 5% after the IMF cut its global growth forecast due to the economic fallout of Russia's invasion of Ukraine.

Jobless claims jumped 18,000 to 185,000 last week after falling to a 54-year low in the prior week, signaling that the labor market remains tight.

Fed President John Williams said a 50 basis point interest rate hike in May is a "reasonable option" given the elevated inflation and strong economy.