Stocks tumble, S&P 500 on pace to break 4-week win streak

Stocks fell on Friday, with the S&P 500 on track to break its four-week win streak as Wall Street’s summer rally lost its steam.

The S&P fell 0.62%, while the Dow Jones Industrial Average dipped 207 points, or 0.61%. The Nasdaq Composite slid 0.95%.

For the week, the S&P 500 was last down 0.82%, while the Dow was up 0.14%. The tech-heavy Nasdaq is currently down more than 2% for the week.

The pause in Wall Street’s summer rally came as traders continued to question whether the Federal Reserve would continue its aggressive rate hiking campaign after the release of minutes from its July meeting.

Traders continued to parse through some key earnings reports. Applied Materials shares rose slightly on the back of a better-than-expected quarterly report, while Foot Locker surged 20% after announcing a CEO change.

In other news, Bed Bath & Beyond shares cratered after Ryan Cohen exited his position in the retailer.