The stock market ended a second straight day of turbulent trading with more losses Friday, but managed to recoup some lost ground by the end of the day
The stock market ended a second straight day of turbulent trading with more losses Friday, but managed to recoup some lost ground by the end of the day.
The S&P 500 finished with its first weekly loss after five weeks of gains. Technology stocks were again the focus of the selling, and big names like Facebook, Amazon and Google’s parent company ended lower.
The selling followed a Labor Department report showing that U.S. hiring slowed to 1.4 million last month even as the nation’s unemployment rate improved to 8.4% from 10.2%.
U.S. markets will be closed Monday for Labor Day.
The S&P 500 fell 28.10 points, or 0.8%, to 3,426.96.
The Dow Jones Industrial Average lost 159.42 points, or 0.6%, to 28,133.31.
The Nasdaq dropped 144.97 points, or 1.3%, to 11,313.13.
The Russell 2000 index of smaller company stocks gave up 9.38 points, or 0.6%, to 1,535.30.
For the week:
The S&P 500 fell 81.05 points, or 2.3%.
The Dow lost 520.56 points, or 1.8%.
The Nasdaq dropped 382.50 points, or 3.3%.
The Russell 2000 gave up 43.04 points, or 2.7%.
For the year:
The S&P 500 is up 196.18 points, or 6.1%.
The Dow is down 405.13 points, or 1.4%.
The Nasdaq is up 2,340.53 points, or 26.1%.
The Russell 2000 is down 133.17 points, or 8%.