Stocks dip on mixed sentiment and inflation data.

Stocks slid on Friday, with all three major indexes set to log weekly losses, after consumer sentiment data showed an increase in inflation expectations. President Biden nominated Philip Jefferson and Adriana Kugler to fill the two open roles on the Federal Reserve's Board of Governors. Linda Yaccarino was officially named the new CEO of Twitter. Fed governor Michelle Bowman said future rate increases may be necessary if inflation remains elevated. Debt ceiling negotiations were postponed until next week, with concerns rising over the possibility of a US default.