Stocks tumble again in one of year's worst trading weeks
Stocks fell Friday as a weeklong equity exodus put the major indexes on track for one of their worst weeks of the year. Investors grew nervous after President Donald Trump the administration is "very prepared for a long [government] shutdown."
The Dow tumbled more than 300 points in turbulent trading that sent the blue-chip index up as much as 300 points earlier in the day, only to trade in negative territory less than one hour later. The initial tick upward came as Federal Reserve Bank of New York President John Williams said that the central bank could reassess its interest rate policy and balance sheet reduction in the new year if the economy slows.
The broader S&P 500 fell 1.7 percent, while the tech-heavy Nasdaq shed 2.7 percent and entered a bear market as technology shares rolled over.
Facebook lost 5.7 percent, Apple lost 2.7 percent and Amazon lost 5.4 percent. Meanwhile, athletic apparel company Nike rallied nearly 8 percent following strong earnings results.
https://www.msn.com/en-us/money/markets/nasdaq-slides-into-bear-market-as-tech-sector-rolls-over/ar-BBRfABn
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