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U.S. stocks suffer worst week in a decade

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  • U.S. stocks suffer worst week in a decade

    The signature market turbulence of the past several weeks resumed Friday as stocks bobbed up and down before sliding deep into losses by the end of trading.

    U.S. stocks rebounded briefly after comments by a Federal Reserve official eased investor worries that the central bank was locked into raising rates in 2019. But an hour later, the Dow had given most of that up.

    Then the political gridlock in Washington put the market in a downward spiral, as President Trump held fast on his demands for more border security funding and Democrats resisted, and the government moved closer to a shutdown.

    The Dow Jones industrial average lost 414 points, or 1.8 percent, and closed at 22,443. The Standard & Poor’s 500-stock index fell 2.1 percent. And the tech-laden Nasdaq was off 3 percent.

    The so-called FAANG stocks were again wreaking havoc on the Nasdaq. Google parent Alphabet was down 3 percent, Amazon down nearly 6 percent, Facebook down more than 6 percent, Netflix 5.5 percent and Apple was in the red less than 2 percent.

    “Technology is part of the same story as the overall market,” said Scott Wren, global equity strategist at the Wells Fargo Investment Institute. “The market is fearing a global slowdown and is still worried about the Fed, even though they dragged Williams out to try to cushion what Chairman Powell said on Wednesday.
    https://www.washingtonpost.com/busin...=.1c074107b695
    "I guess I just hate the fact there is public property at all." - Mr. Raceboy.

  • #2
    "But he's good for the economy"
    "I guess I just hate the fact there is public property at all." - Mr. Raceboy.

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    • #3
      Finally.

      Stephen (swapped most of his 401k to bonds a while back in anticipation)

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