Wall Street Ends Week Sharply Lower After Friday Selloff
Wall Street concluded a volatile week with a significant selloff on Friday, ending a nine-week winning streak as technology stocks slid and strong jobs data fueled fears of interest rate hikes. The dramatic reversal from earlier record highs was driven by an avalanche of selling, particularly in chip stocks.
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Here are 3 forces that drove a whirlwind week for the stock market
An avalanche of selling on Friday crushed stocks. It was a dramatic reversal from record highs earlier in the week.
Read full article →Wall Street ends sharply lower as chips slide, jobs data fuels rate hike fears
Wall Street’s nine-week winning streak ended with a thud on Friday, as red-hot technology stocks suffered their largest daily decline this year after a hot May jobs report fueled fears of a hawkish policy pivot from the US Federal Reserve. Selling was concentrated among chip stocks and other technology favorites that have surged higher in recent weeks as the Nasdaq Composite Index and S&P 500 rose repeatedly to fresh highs. All three major US stock indexes closed sharply lower, with plungin...
By none@none.com (Reuters)
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