People stand in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Monday, March 11, 2024, in Tokyo. Asian shares were mostly lower on Monday after Wall Streets huge rally faltered last week. – Asian shares were mostly lower on Monday after Wall Street’s huge rally faltered last week.
On Friday, the S&P 500 fell 0.7% from its all-time high set a day before, closing at 5,123.69. The Dow dropped 0.2% to 38.722.69, and the Nasdaq slid 1.2% to 16,085.11.Friday’s dip also sent the S&P 500 to a rare losing week, just its third in the last 19. The ultimate goal is for prices to cool enough to convince the Federal Reserve to lower its main interest rate from its highest level since 2001 and relieve pressure on the financial system and the economy.
On Friday, gun maker Smith & Wesson Brands leaped 29.4% after reporting stronger profit than expected for the latest quarter. It said its shipments grew faster than the overall firearms market.