The S&P 500 dipped Friday, taking a respite after a surge this week propelled the benchmark to new highs.
The broad market index dropped 0.4%, while the Dow Jones Industrial Average fell 142 points, or 0.4%. The Nasdaq Composite fell 0.3 percent.
Adam Crisafulli of Vital Knowledge attributed Friday’s weakening to global influences such as concerns about the political situation in France and the Bank of Japan’s announcement that it would halt its quantitative easing pace.
“Monetary policy is easing on a net basis globally, but the process isn’t going to happen rapidly enough to offset rising earnings headwinds tied to an environment of cooling nominal growth,” Crisafulli said.
Source (CNBC)