On Friday, Wall Street was anticipating the conclusion of a week characterised by rotation, and the S&P 500 and Nasdaq Composite showed minimal movement.
With the tech-heavy Nasdaq down 0.2%, the broad market index was flat. An increase of 143 points, or 0.4%, was seen in the Dow Jones Industrial Average decline.
The actions were taken in response to Thursday’s general market downturn. After a six-day winning streak, the Dow dropped more than 500 points. A 0.8% and 0.7% decline was seen in the S&P 500 and Nasdaq Composite, respectively.
A rotation in the market seems to be the week’s theme, even after Thursday’s massive sell-off. Approaching its worst week since April, the S&P 500 has fallen 1.26%.
A winning streak spanning six weeks is at jeopardy as the Nasdaq Composite fell 2.87%.
However, the small-cap focused Russell 2000 has increased by 2.33%, while the Dow has increased by 1.66%.
Source (CNBC)
