Stocks dipped on Friday, with Wall Street on track to post a losing week as a rally that carried the broader market in recent months appeared to run out of steam.
The Dow Jones Industrial Average dipped 139 points, or 0.41%. The S&P 500 slid 0.40%, and the Nasdaq Composite was lower by 0.46%.
All three major averages are set to break multiweek winning streaks. The Dow and S&P 500 have lost more than 1% each since the start of the week. The Nasdaq is also down 1%, on pace to snap an eight-week win streak and post its worst weekly stretch since April.
Investors are definitely exhibiting the renewed fears of a US recession, as well as a global recession. Inflation levels remain elevated and Federal Reserve policy definitely remains the investor narrative.\u201d
The pullback was broad-based with more than 460 S&P 500 stocks trading in negative territory. Information technology was the biggest laggard, down more than 1%. Notably, shares of Nvidia, a major AI beneficiary, were down 2%.
Meanwhile, Goldman Sachs declined after CNBC reported the investment bank likely faces a large writedown for its 2021 acquisition of fintech firm GreenSky. The stock was down about 1%, weighing on the Dow.
In contrast, CarMax shares jumped more than 9% after the used car retailer exceeded first-quarter revenue expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"
Stocks dipped on Friday, with Wall Street on track to post a losing week as a rally that carried the broader market in recent months appeared to run out of steam.The Dow Jones Industrial Average dipped 139 points, or 0.41%. The S&P 500 slid 0.40%, and the Nasdaq Composite was lower by 0.46%.All three major …<\/p>\n","protected":false},"author":13,"featured_media":61273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7192,6901,7536,7442,6862],"class_list":["post-85771","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-dow","tag-nasdaq","tag-recession","tag-us-shares","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/85771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=85771"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/85771\/revisions"}],"predecessor-version":[{"id":85776,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/85771\/revisions\/85776"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61273"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=85771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=85771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=85771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}