Stocks end rocky week with their fifth straight weekly decline
NEW YORK — The stock market ended an unusually turbulent week with its fifth straight weekly decline. The bumpy and mostly lower ride came as investors worry that the Federal Reserve may not succeed in engineering a smooth cooldown of the economy without letting inflation get out of hand. The S&P 500 ended with a loss of 0.6% Friday, having come back partway from a bigger loss of 1.9%. The Fed is aggressively moving to yank supports for the economy put in place through the pandemic. That has helped send bond yields, which influence mortgage rates, to the highest levels since 2018, and they’re sure to move higher.
With Ukraine’s ports blocked, trains in Europe haul grain
VIENNA — A train carrying 2,000 metric tons of Ukrainian corn has arrived in Austria. It’s part of European efforts to elude a Russian blockade of Ukraine’s ports that has prevented critical supplies of wheat, corn and other grains from getting to countries in Africa, Middle East and parts of Asia. Austria’s farming minister said, Friday, that the shipment marked the establishment of a “green corridor” for important cargo shipments between the two countries.