Nasdaq off to worst start since 2008 | Cryptocurrencies tumble | Federal Reserve meeting next week

The Nasdaq Composite's decline marks the worst start to a year since 2008.

VIEW IN BROWSER | SUBSCRIBE FRI, JAN 21, 2022 EVENING BRIEF AS OF FRI, JAN 21, 2022 • 05:09 ET DJIA 34265.37 -1.30% -450.02 S&P 500 4397.94 -1.89% -84.79 NASDAQ 13768.92 -2.72% -385.10   Most Active DOW NAME LAST CHG %CHG AAPL 162.41 -2.10 -1.28% MSFT 296.03 -5.57 -1.85% INTC 52.04 UNCH UNCH S&P 500 NAME LAST CHG %CHG F 20.65 -1.00 -4.62% AAPL 162.41 -2.10 -1.28% AMD 118.81 -3.08 -2.53% NASDAQ NAME LAST CHG %CHG AAPL 162.41 -2.10 -1.28% PTON 27.06 +2.84 +11.73% AMD 118.81 -3.08 -2.53%   EDITOR'S NOTE The Nasdaq Composite's decline marks the worst start to a year since 2008, and next week's Federal Reserve meeting isn't likely to help the technology-focused index.   The Nasdaq just posted its worst week since 2020, after dropping nearly 7.6% in the holiday-shortened week as government bond yields surged. The index is even deeper in correction territory, off 14.25% from its November record close. The Dow Jones Industrial Average and S&P 500 slipped about 450 points and 1.9% on Friday, respectively. This brings the blue-chip index's week-to-date losses to roughly 4.6%, while the S&P 500 is down about 5.7% for the period. The two averages notched a third week of losses and worst weeks since 2020.    Investors will now shift their focus to the Federal Reserve meeting next week. Investors will look for clues on the central bank's timeline for raising interest rates and broadly tightening monetary policy.   "The markets are on edge ahead of next week's Fed policy meeting since policymakers are preparing for an imminent rate lift-off in March," said Kathy Bostjancic, chief U.S. economist at Oxford Economics. "Uneven Q4 earnings results coupled with rising geopolitical tensions adds to the market jitters." Maggie Fitzgerald | CNBC Markets Reporter @mkmfitzgerald Watch our live stream for all you need to know to invest smarter. TOP NEWS  Nasdaq tumbles 2% Friday, notches worst week since 2020 and falls deeper into correction territory Cryptocurrencies tumble, with bitcoin falling 10% and ether down 13% U.S. judge blocks Biden vaccine mandate for federal workers in latest blow to White House Covid agenda Peloton shares up after CEO says it must 'right-size' production levels, consider layoffs Booster shots effective against severe illness from omicron Netflix plummets over 20%, on pace for worst day since July 2012 Sell the close: Final hour of trading so far in 2022 among the weakest seen in decades Kids' Covid hospitalizations hit pandemic high, worrying doctors and parents about long-term impact As bitcoin breaks below $40,000, chart analysts don't see support for the price until much lower Here's what investors should do with bank stocks after fourth-quarter earnings   TOP VIDEO Domino's, Bath & Body Works, among stocks that are oversold, says Chris Senyek   CNBC PRO Bank of America's Hartnett says higher rates are breaking tech, sell any bounce   SPECIAL REPORTS A lasting stock market downturn can be a big problem early in your retirement. How to combat that risk Meme stock tax bite   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS Watch our live stream for all you need to know to invest smarter.