Wall Street ended with mixed results this Friday, after a volatile session in which the Tesla (TSLA) plummeted and others shares of growth also lose ground.
the index S&P 500 (SPX) closed up 0.01% at 3,901.36 points. THE dow jones (DJI) rose 0.03% to 31,261.90 points. The technology index Nasdaq (US100) fell 0.3% to 11,354.62 points.
The S&P 500 and Nasdaq indexes posted their seventh straight week of declines, their longest losing streak since the dot-com bubble ended in 2001.
The Dow Jones Industrial Average suffered its eighth consecutive weekly decline, the longest since 1932, during the Great Depression.
The S&P 500 spent most of the trading session in negative territory and at one point retreated just over 20% from the closing record it hit on Jan 3, before ending down 18% from that level. and stable for the day.
Closing 20% below that record high would confirm that the S&P 500 has been in a bear market since peaking in January, according to a widely accepted definition.
The tech-focused Nasdaq was down about 27% from its closing record set in November 2021.
THE Tesla (TSLA) depreciated 6.4%, and weighed heavily on the S&P 500, after Chief Executive Elon Musk characterized as “totally false” allegations in a news report that he sexually harassed a flight attendant on a private jet in 2016.
For the week, the S&P 500 is down 3.0%, the Dow Jones is down 2.9% and the Nasdaq is down 3.8%.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
