Wall Street closed out its worst week in a month with more losses
ByThe Associated Press
October 20, 2023, 4:22 PM
Wall Street closed out its worst week in a month with more losses.
The S&P 500 fell 1.3% Friday. The Dow lost 286 points, and the Nasdaq composite dropped 1.5%. The stock market has been under pressure from the bond market, where the yield on the 10-year Treasury briefly touched 5% Thursday evening for the first time since 2007.
High yields make borrowing more expensive for everyone, and they slow the economy while dragging on investment prices. The 10-year yield eased Friday, but only after hanging near 4.99% in the morning. Crude oil prices fluctuated, and gold’s price rose.
The S&P 500 fell 53.84 points, or 1.3%, to 4,224.16.
The Dow Jones Industrial Average fell 286.89 points, or 0.9%, to 33,127.28.
The Nasdaq composite fell 202.37 points, or 1.5%, to 12,983.81.
The Russell 2000 index of smaller companies fell 21.91 points, or 1.3% to 1,680.79.
For the week:
The S&P 500 is down 103.62 points, or 2.4%.
The Dow is down 543.01 points, or 1.6%.
The Nasdaq is down 423.43 points, or 3.2%
The Russell 2000 is down 38.92 points, or 2.3%.
For the year:
The S&P 500 is up 384.66 points, or 10%.
The Dow is down 19.97 points, or 0.1%.
The Nasdaq is up 2,517.32 points, or 24.1%
The Russell 2000 is down 80.45 points, or 4.6%.