The benchmark S&P 500 index closed in correction territory on Friday, ending a week made volatile by weaker-than-expected earnings reports and strong economic data.
The S&P 500 fell 0.5%, marking a more than 10% drop from its most recent July peak. The Dow tumbled 367 points, or 1.1%, after sliding by more than 400 points at the trading session’s lows. The Nasdaq Composite added 0.4%. Amazon shares rose 6.8% on Friday after the e-commerce giant reported a beat on top-and bottom-lines for its most recent quarter.
5% and the Nasdaq Composite lost 2.6%. Key data this week has shown that the US economy continues to remain strong despite interest rates at their highest level in 22 years, concerning investors already fearful that the central bank will keep rates higher for longer. Gross domestic product, a measure of all goods and services produced in the US economy, rose at an annualized 4.9% rate during the third quarter, the Commerce Department reported Thursday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
4 Top Stocks Gearing Up to Double Last Year's Earnings Per ShareStocks Analysis by Ismael De La Cruz covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, Amazon.com Inc. Read Ismael De La Cruz's latest article on Investing.com
Read more »
A major source of liquidity for buying U.S. government debt is draining. Here's why that's bad news for the Fed and the markets.S&P 500 on pace to log a correction on Friday, joining the Nasdaq
Read more »
S&P 500 ends in correction, stocks post sharp weekly lossesJoy Wiltermuth is a news editor and senior markets reporter based in San Francisco.
Read more »
S&P 500 Enters CorrectionMajor indexes on track to fall for three straight months
Read more »
S&P 500 swings lower to enter correction as tech gives up gains, energy slumpsS&P 500 swings lower to enter correction as tech gives up gains, energy slumps
Read more »
S&P 500 doesn’t tell whole story thanks to Magnificent 7: Key resistance levels to watchMarkets are in a 'textbook downtrend.' Our technical analyst breaks down the good and bad news on what's ahead.
Read more »