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The S&P 500 fell 1.3% to 4,204.36, and the Dow Jones Industrial Average was down 0.7% to 32,943.33. The Dow posted a fifth straight weekly loss — its longest losing streak since 2019. The Nasdaq Composite tumbled 2.2% to 12,843.81. Though all three indexes opened in the green, stocks took a turn after a new report showed U.S. consumer sentiment deteriorated more than expected in early March as consumers' inflation expectations soared to the highest since 1981. Official government accounts have also spread fake fact checks. An official Twitter account for the Russia diplomatic mission in Geneva shared a fake debunking video claiming without evidence that "Western and Ukrainian media are creating thousands of fake news on Russia every day." The video, which has amassed almost 30,000 views, offered a "how-to" spot misinformation. Founder Pavel Durov says tech is meant to set you free Stocks closed in the red Friday as investors weighed upbeat remarks from Russian President Vladimir Putin about diplomatic discussions with Ukraine against a weaker-than-expected print on U.S. consumer sentiment. "The result is on this photo: fiery 'greetings' to the invaders," the Security Service of Ukraine wrote alongside a photo showing several military vehicles among plumes of black smoke.
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