S&P 500 ends in correction, stocks post sharp weekly losses

U.S. stocks closed out a rough week mostly lower on Friday, leaving the S&P 500 and the Nasdaq Composite both in correction territory. The Dow Jones Industrial Average DJIA, -1.12% shed about 366 points on Friday, or 1.1%, ending near 32,417, according to preliminary FactSet data. The S&P 500 index SPX, -0.48% shed 0.

The Nasdaq Composite Index COMP, +0.38% rose 0.4%, but ended lower for a third straight week. It shed 2.6% for the week, while the S&P 500 lost 2.5% and the Dow fell 2.1% since Monday. Stocks have been under pressure from higher long-dated Treasury yields, with the 10-year TMUBMUSD10Y, 4.833% rate easing back from a brief high of 5% in recent sessions to about 4.846% Friday. Focus next week will be on the Treasury’s release of its expecting $1.

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U.S. stocks post back-to-back drop as big tech shares tumbleJoy Wiltermuth is a news editor and senior markets reporter based in San Francisco.
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