Stocks closed lower as Wall Street ended a holiday-shortened week on a down note.
The S&P 500 fell 1.1 percent Friday and the the Dow Jones Industrial Average lost 333 points, or 0.8 percent. The Nasdaq composite dropped 1.5 percent.
The “Magnificent 7” stocks weighed on the market, led by declines in Nvidia, Tesla and Microsoft. Even with the loss, the S&P 500 had a modest gain for the week and is still headed for its second consecutive annual gain of more than 20 percent, the first time that has happened since 1997–1998. The yield on the 10-year Treasury rose slightly.
On Friday:
The S&P 500 fell 66.75 points, or 1.1 percent, to 5,970.84.
The Dow Jones Industrial Average dropped 333.59 points, or 0.8 percent, to 49,992.21.
The Nasdaq composite fell 298.33 points, or 1.5 percent, to 19,722.03.
The Russell 2000 index of smaller companies dropped 35.60 points, or 1.6 percent, to 2,244.59.
For the week:
The S&P 500 is up 39.99 points, or 0.7 percent.
The Dow is up 151.95 points, or 0.4 percent.
The Nasdaq is up 149.43 points, or 0.8 percent.
The Russell 2000 is up 2.22 points, or 0.1 percent.
For the year:
The S&P 500 is up 1,201.01 points, or 25.2 percent.
The Dow is up 5,302.67, or 14.1 percent.
The Nasdaq is up 4,710.68 points, or 31.4 percent.
The Russell 2000 is up 217.52 points, or 10.7 percent.
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