Stocks suffer losses amid recession fears and interest rate concerns.

US stocks fell on Friday, with the Nasdaq breaking an eight-week upward swing due to tech stocks. Recession fears have returned as Federal Reserve Chair Jerome Powell said more rate increases are likely to come in the months ahead. However, other Fed officials have talked about the importance of having patience to see how well the Fed’s actions to date have worked. Key data for investors to judge the Fed's progress in taming interest rates will be released next week. Shares of 3M Company rose 0.4%, CarMax, Inc. shares rose about 10%, and Starbucks Corporation shares fell 2.5%.