The market is set to wrap up a roller-coaster week with the S&P 500 headed for its worst month since March 2020.

The Dow Jones Industrials stepped back 175.79 points soon after the opening bell to 33,984.99

The S&P 500 sank 11.82 points to 4,314.69. The S&P 500 is wading into correction territory, down more than 10% from its intraday record.

The NASDAQ withered 32.34 points to 13,320.44. The NASDAQ sits more than 18% from its high.

The major averages have experienced outsized swings each day this week — including the Dow making up a more than 1,000-point intraday deficit to close higher on Monday for the first time ever.

The Dow and S&P 500 are both headed for four consecutive losing weeks. The NASDAQ has dropped 3% this week, on track for its fifth straight negative week.

Shares of Apple rose more than 3% after the company reported its largest single quarter in terms of revenue ever even amid supply challenges and the lingering effects of the pandemic. Apple beat analyst estimates for sales in every product category except iPads.

Chevron shares fell more than 3% after missing Wall Street earnings expectations. Dow component Caterpillar dipped more than 4% even after it topped profit estimates.

December’s core personal consumption expenditures price index, the Fed’s preferred inflation gauge, jumped 4.9% from the year prior, the Commerce Department reported Friday. The PCE jump is higher than economists expected and the hottest reading since September 1983.

Along with the inflation numbers, personal income rose 0.3% for the month, a touch lower than the 0.4% estimate.

Prices for 10-year Treasurys were unchanged, keeping yields at Thursday’s 1.81%.

Oil prices hiked $1.62 to $88.23 U.S. a barrel.

Gold prices retreated $6.50 to $1,788.5 U.S. an ounce.