The Dow Jones Industrial Average swung wildly Friday to close near its session low as Wall Street struggled to shake off fears of rapidly rising rates.
The blue-chip benchmark ended the volatile session 469.64 points, or 1.5%, to 30,932.37 after trading in the green earlier. The S&P 500 fell 0.5% to 3,811.15 as energy and financial stocks pulled back. The Nasdaq Composite ended the day 0.6% higher at 13,192.34 as Big Tech names rebounded after a large sell-off in the previous session amid surging bond yields. Facebook, Microsoft and Amazon each rose more than 1%. The tech-heavy benchmark gyrated in Friday’s session where it jumped 1.9% at its high and fell as much as 0.7%.
All three major averages posted weekly losses as fears of higher interest rates and inflation deepened. The S&P 500 slid 2.5% this week for its second negative week in a row. The 30-stock Dow fell 1.8%, and the Nasdaq was the relative underperformer this week, losing 4.9%.
Hmm ... Clock has struck 12? Party ending?
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A funny video of how to handle such market scares.
ReplyDeleteHas been working well since 2009 ... so far, lol.
US Market Clock spoil liao. No more striking 12 O Clock! Party never ending! LOL!
ReplyDeleteU.S. stocks jumped sharply on Monday in a broad-based rally as stocks tied to the economic reopening jumped on vaccine optimism, while tech names rebounded from steep losses last week.
The 30-stock Dow Jones Industrial Average jumped 603.14 points, or 2%, to 31,535.51, boosted by a 5.8% jump in Boeing. The S&P 500 gained 2.4% to 3,901.82 as all 11 sectors registered gains, posting its best day since June 5. The tech-heavy Nasdaq Composite, which shed 4.9% last week, also popped 3% to 13,588.83.