Stocks closed lower on Wall Street, giving the S&P 500 its second losing week in a row.
The benchmark index lost 1.2% Friday. The Dow fell 288 points and the Nasdaq composite gave back 1.6%. The market had posted some gains this week following several healthy indicators on the economy ahead of the Federal Reserve’s meeting next week, where it’s expected to hold interest rates steady.
Tech stocks were the biggest drag on the market. Automaker stocks proved resilient after the United Auto Workers union walked off the job at several plants overnight. Treasury yields mostly rose.
The S&P 500 fell 54.78 points, or 1.2%, to 4,450.32.
The Dow Jones Industrial Average fell 288.87 points, or 0.8%, to 34,618.24.
The Nasdaq composite fell 217.72 points, or 1.6%, to 13,708.33.
The Russell 2000 index of smaller companies fell 19.60 points, or 1.1% to 1,847.03.
For the week:
The S&P 500 fell 7.17 points, or 0.2%.
The Dow rose 41.65 points, or 0.1%.
The Nasdaq fell 53.19 points, or 0.4%.
The Russell 2000 fell 4.51 points, or 0.2%.
For the year:
The S&P 500 is up 610.82 points, or 15.9%.
The Dow is up 1,470.99 points, or 4.4%.
The Nasdaq is up 3,241.85 points, or 31%
The Russell 2000 is up 85.79 points, or 4.9%.