NEW YORK: US stocks closed a mostly downcast week on a sour note on Friday following fresh indications the Obama administration plans military action against Syria.
The Dow Jones Industrial Average lost 30.64 points (0.21 percent) at 14,810.31.
broad-based S&P 500 dropped 5.20 points (0.32 percent) to 1,632.97,
while the tech-rich Nasdaq Composite Index gave up 30.43 points (0.84
percent) at 3,589.87.
Friday's trade was light on the last session
of the month and before the long holiday weekend. US financial markets
will be closed Monday for the Labour Day federal holiday.
about Syria, coupled with uncertainty about the Federal Reserve's
September policy meeting and low trading volumes, produced a "buyer's
strike" this week, said David Levy, portfolio manager of Kenjol Capital
"There's just no impetus to buy," Levy said. "We're
heading into a three-day weekend with plenty of uncertainty and we're
also heading into a month with quite a bit of uncertainty."
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