(Part-2) Stock market today: Wall Street cuts losses to end its worst week in 10:

The 10-year Treasury rate slipped to 3.96% after the weaker-than-expected services industry data after rising to 4.09% after the jobs report. Finally, it fell to 4.04% from 4.00% late Thursday.

After reporting better quarterly earnings than expected, US Corona and Modelo maker Constellation Brands rose 2.1% on Wall Street.

Travel firms also recovered from prior losses. Carnival gained 2.8% and American Airlines 3.9%.

Apple lost 5.9% last week, its lowest since September, after a 0.4% drop Friday. A dramatic contrast to previous year, when the market's most significant stock rose almost 48%.

Many on Wall Street expected this week's stock market fall since its huge surge since October was exaggerated. The six rate cuts speculators are counting on by 2024 are implausible without a recession, say critics. In its current SEP, the Fed suggested three decreases.

“Many who assume the Fed will need to move faster and more aggressively than its SEP projections or recent statements likely received a dose of reality this week,” said BlackRock global fixed income head investment officer Rick Rieder. “Like the weather, things are cooling more moderately than historically. There are occasional quicker cooling periods, but nothing to worry about or aggressively seek cover from.”

After December inflation jumped to 2.9%, European stock markets fell. The comeback after seven monthly falls raised questions about when the ECB could decrease rates. Much of Asia had lower indexes. Though unusual, Japan's Nikkei 225 climbed 0.3%.

As the yen falls against other currencies, Japanese exporters hope to benefit. The yen has fallen in recent days on speculation the Bank of Japan may suspend its ultra-aggressive interest rate strategy after Monday's massive earthquake in central Japan.

Watch this space for further developments.