Wall Street’s main indexes swung between gains and losses on the last day of a tumultuous week that rocked the global markets as the low-yielding yen surged and fears of a recession gripped the world’s biggest economy.

All major indexes were set for weekly losses, with the S&P 500 (.SPX), and the Nasdaq (.IXIC), headed for a fourth straight week of fall.

Global markets experienced heightened volatility this week after dour U.S. job reports and the Bank of Japan’s interest rate hike on July 31 that led to a sharp appreciation in the yen, widely used for buying high-yielding assets, which resulted in the unwinding of currency carry trade positions.

But after jobless claims last week fell more than expected, U.S. stocks jumped on Thursday. The CBOE Volatility Index (.VIX), Wall Street’s “fear gauge”, which had surged to 65.73 at the start of the week, also declined to 22.23 points. Analysts are still skeptical.

“Further data will be needed to assure that last week’s jobs number isn’t affirming heightened risk of an imminent recession,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott.

“In the meantime, equities may be in a trading range above that of the recent sell off low but no new catalyst for a sustained advance to ensue,” Mark added.

Most megacap and growth stocks were higher, except Alphabet (GOOGL.O), which was down over one per cent. Eight of the 11 major S&P sectors were trading higher, with healthcare (.SPXHC), and consumer discretionary (.SPLRCD), leading the gains.