Following disappointing results from Amazon, Wall Street equities ended the day substantially lower, while markets wrestled with concerns about inflation and higher interest rates.

The broad-based S& P 500 index concluded the week at 4,131.93, down 3.6 percent, putting it in the red.

The Dow Jones Industrial Average fell 2.8 percent to 32,977.21, while the Nasdaq Composite Index, which is dominated by technology, fell 4.2 percent to 12,334.64.

Amazon’s stock dropped 14.1 percent after it issued a dismal estimate, citing increased expenses and slower growth than early in the quarter. It was the company’s first loss since 2015.

The results were the latest in a mixed bag of earnings from large tech stocks, which are widely held and play an important role in major indices.

Among other tech companies reporting results, Apple fell 3.7 percent and Intel shed 6.9 percent.

Meanwhile, the Commerce Department announced that personal consumption expenditures increased 1.1 percent in March, about twice as much as economists predicted, while incomes increased 0.5 percent, both evidence of the economy’s sustained resiliency.

However, prices increased by 0.9 percent, a substantially larger increase than in February.

Analysts are bracing for next week’s Federal Reserve meeting, which is expected to end with a half-percentage-point interest rate hike, the central bank’s latest attempt to combat inflation.

Honeywell International was a rare outlier among individual firms, climbing 1.9 percent after raising its earnings projection, citing robust growth in commercial aircraft, building materials, and other areas.