US stocks erased steep intraday losses to close mixed Friday in a volatile session that saw the S&P 500 hit
bear-market territory.
Early …
US stocks erased steep intraday losses to close mixed Friday in a volatile session that saw the S&P 500 hit
bear-market territory. Early Friday, US stocks rose after China’s central bank unleashed additional stimulus in the form of a rate cut, but Wall Street’s gains were short-lived as
recession fears weighed. The S&P 500 eventually joined the Nasdaq Composite in a bear market as each index this year has logged declines of more than 20% from recent highs. The S&P 500 also cemented a seventh straight weekly loss, its longest such slump since 2001. The Dow Jones Industrial Average with eight weeks of declines marked the longest run of losses since 1923, according to Bloomberg.