Stock Market Today: Dow Sinks 200 Points; Global Recession Fears in Focus - The Wall Street Journal

Surveys of purchasing managers by data firm S&P Global pointed to sharper-than-expected slowdowns in the eurozone, Japan and Australia.

Several overseas central banks raised borrowing costs in recent days to slow inflation. The Federal Reserve, meanwhile, said its inflation-fighting campaign has further to go.

U.S. stocks log losing week. The Dow industrials snapped a three-week winning streak and the Nasdaq ended an eight-week streak. The S&P 500 snapped a five-week streak. All three are still up for the year.

Treasury prices rose. That pulled the yield on benchmark 10-year notes down to 3.737%, from 3.797% Thursday. European government bonds rallied, too.

Oil prices retreated. Most-active futures for Brent crude fell 0.6% to $73.88 a barrel. A Saudi Arabia-led output cut has failed to fuel a sustainable energy-market rally.

CarMax shares advanced. The gains came after the used-car retailer reported better-than-expected earnings. CarMax was the S&P 500's top performer.

3M shares edged up. The company agreed to pay up to $12.5 billion to settle hundreds of lawsuits brought by cities that said their drinking water was contaminated.

Bitcoin held above $3,000._ The cryptocurrency has rallied in recent days after BlackRock filed for a spot bitcoin exchange-traded fund.

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