U.S. stocks fell sharply, after heavy selling in momentum stocks such as
biotechs and Internet companies on Friday reversed an early rally,
sending the Nasdaq Composite to its worst day in two months.
The markets opened higher following a government report showing a steady pace of jobs growth, lifting both the S&P 500 and the Dow Jones Industrial Average to intraday highs. But early gains soon dissipated.
The S&P 500
SPX
-1.25%
ended the day 23.68 points, or 1.3%, lower at 1,865.09. The benchmark
index eked out a 0.4% gain over the week. Technology and consumer
discretionary sector stocks led the losses.
The Dow Jones Industrial Average DJIA -0.96% dropped 159.84 points, or 1%, to 16,412.71 but managed to stay 0.5% higher on the week. Microsoft Corp MSFT -2.78% and Visa Inc V -3.40% , down 2.8% and 3.4% respectively, were leading the losses among the blue chips.
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The markets opened higher following a government report showing a steady pace of jobs growth, lifting both the S&P 500 and the Dow Jones Industrial Average to intraday highs. But early gains soon dissipated.
The Dow Jones Industrial Average DJIA -0.96% dropped 159.84 points, or 1%, to 16,412.71 but managed to stay 0.5% higher on the week. Microsoft Corp MSFT -2.78% and Visa Inc V -3.40% , down 2.8% and 3.4% respectively, were leading the losses among the blue chips.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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