S&P 500 and Nasdaq Post Worst Week Since March
US stock markets saw a challenging week as the S&P 500 and Nasdaq recorded significant losses, marking their worst performance since March. Get insights into market trends and key indicators in this update.
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In the world of US business stocks, Friday marked the fourth consecutive trading day of losses, with both the S&P 500 and the Nasdaq experiencing their worst week since March.
The Dow Jones, a prominent blue-chip index, saw a decline of 106 points, equivalent to 0.31%, as it closed at 33,963. For the week, this index faced a notable decrease of 1.9%.
The S&P 500, another key index, also registered a setback, shedding nearly 10 points or 0.23% to conclude the session at 4,320. Throughout the week, the S&P 500 posted a significant weekly decline of 2.9%.
On the tech-focused side, the Nasdaq index saw a dip of 12 points or 0.09%, ending the day at 13,211. Over the course of the week, the Nasdaq, which is known for its tech-heavy composition, experienced a substantial loss of 3.6%.
In the realm of market indicators, the VIX volatility index, often referred to as the "fear index," decreased by 1.9% to reach 17.20. Simultaneously, the 10-year US Treasury yield dropped by 1.05% to stand at 4.435%.
In terms of currency exchange rates, the dollar index showed an uptick of 0.23%, reaching 105.61, while the euro weakened by 0.11% to $1.0646 against the US dollar.
Turning to precious metals, gold exhibited a gain of 0.3%, reaching $1,925 per ounce, while silver saw an increase of 0.6% to $23.55 per ounce.
In the energy sector, oil prices experienced a modest uptick, with the global benchmark Brent crude priced at $93.58 per barrel, and the US benchmark West Texas Intermediate (WTI) reaching $90.33 per barrel.
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