Stocks closed lower as Wall Street ended a holiday-shortened week on a down note. The S&P 500 fell 1.1% Friday and the the Dow Jones Industrial Average lost 333 points, or 0.8%. The Nasdaq composite dropped 1.5%. The “Magnificent 7” stocks weighed on the market, led by declines in Nvidia, Tesla and Microsoft. Even with the loss, the S&P 500 had a modest gain for the week and is still headed for its second consecutive annual gain of more than 20%, the first time that has happened since 1997-1998. The yield on the 10-year Treasury rose slightly.
On Friday:
The S&P 500 fell 66.75 points, or 1.1%, to 5,970.84.
The Dow Jones Industrial Average dropped 333.59 points, or 0.8%, to 49,992.21.
The Nasdaq composite fell 298.33 points, or 1.5%, to 19,722.03.
The Russell 2000 index of smaller companies dropped 35.60 points, or 1.6%, to 2,244.59.
For the week:
The S&P 500 is up 39.99 points, or 0.7%.
The Dow is up 151.95 points, or 0.4%.
The Nasdaq is up 149.43 points, or 0.8%
The Russell 2000 is up 2.22 points, or 0.1%.
For the year:
The S&P 500 is up 1,201.01 points, or 25.2%.
The Dow is up 5,302.67, or 14.1%.
The Nasdaq is up 4,710.68 points, or 31.4%.
The Russell 2000 is up 217.52 points, or 10.7%.
