STOCK MARKET HEADED FOR ITS WORST WEEK OF THE YEAR
Stock Market News: Dow, S&P 500 Drop
The stock market was on track to close out its worst week of the year on Friday, after bank earnings failed to impress Wall Street and worries increased over escalating conflict in the Middle East.
The Dow Jones Industrial Average was down 471 points, or 1.2%. The S&P 500 was down 1.4%. The Nasdaq Composite was down 1.6%.
The Dow is down about 2.4% this week, which would be its largest one-week decline since March 10, 2023, according to Dow Jones Market Data. The S&P 500 was on track for a 1.5% weekly decline, its worst week since Oct. 27. The Nasdaq was down just 0.4% on the week.
All 11 S&P 500 sectors were on track to close the week lower for the first time since Sept. 22, according to Dow Jones Market Data. Financials were the biggest laggard, with a drop of 3.7%. The best performer has been technology, on track for a drop of 0.3%.
