US stocks close near the lows, give up nearly all of yesterday’s gains

It was an ugly day for stocks but if you told me before the CPI data that it would be hot and that stocks would trade flat on Thursday-Friday, I’d say that’s constructive. It sure doesn’t feel that way though.

• S&P 500 down 86 points to 3583 or 2.4%
• Nasdaq Comp -3.1%
• Russell 2000 -2.6%
• DJIA -1.3%

If there’s any kind of consolidation, JPM managed to gain 1.8% on good earnings on a rough tape.

On the week:

• S&P 500 -1.25%
• Nasdaq Comp -2.8%
• Russell 2000 -1.1%