- US stocks have had their longest weekly losing streak since September, with investors concerned that the Fed's determination to keep raising interest rates will tip the economy into a recession.

- For the third day in a row, the S&P 500 and the Nasdaq 100 finished lower. The quarterly triple witching expiration of equity derivatives boosted market movements on Friday as well.

- The performance of US treasuries was mixed, with short-term bonds rallying on Friday. The policy-sensitive two-year yield was nearly 19 basis points lower at the end of the week. The value of the dollar had hardly changed. Oil is up for the week.

- Earlier this week, investors cheered softer-than-expected inflation data. However, the euphoria faded as Fed officials hammered home the message that rates will remain higher until they are confident that inflation has been subdued. While the Fed raise rates by 50 basis points on Wednesday, risk assets have been under pressure since policymakers signalled a peak rate that was higher than market expectations. This week saw a wave of rate hikes and hawkish forecasts from central banks around the world, including the ECB.

- Traders also had to contend with a slew of US data this week that showed the economy cooling while the labour market remained strong. This did not sit well with investors, as labour market softening remains a major concern for the Fed.