Inflation fears weaken investor sentiment

The S&P 500 fell by 2.5% for the week, with growth stocks outperforming value for the first time in nine trading sessions. The rotation into value may have been temporarily stalled, due to potentially oversold conditions combined with decreasing yields. The consumer discretionary and technology sectors fell by nearly 5% and 4%, respectively, while utilities also fell by 5%. Energy was the lone weekly gainer, adding 4.3%, while financials and industrials lost the least.