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Stocks were volatile during Friday’s trading, the same applies to almost all other assets with the exception of the strongeU DOLLAR>
US shares were switching between gains and losses as investors grew increasingly worried about a potential economic slowdown. The S&P 500 and the Nasdaq Composite bounced on Friday as Wall Street attempted to find its footing following a brutal week of selloff in the week of worst sock performance since 2020.
The Dow Jones Industrial Average slipped 38.29 points, or 0.13% to 29,888.78, while the S&P 500 gained 0.22% to close at 3,674.84. The Nasdaq jumped 1.43% to 10,798.35.
The Dow closed again under the 30,000 mark after dipping below that level on Thursday for the first time since January 2021. The 30-stock average closed down 4.8% for the week, its 11th negative week in 12. The tech-heavy Nasdaq Composite also slipped 4.8%.
Economic Data
Several key pieces of economic data fell short of forecasts this week, ranging from May retail sales to housing starts. Additionally, the Federal Reserve raised its benchmark interest rate by the most since 1994.
Other Developments
Gold declined to trade around $1830 and looked impacted by the dollar’s price movement.
