US stocks are closing the session at the lows with the Nasdaq index leading the way.
The final numbers are showing:
- Dow industrial average -286.91 points or -0.86% at 33127.27
- S&P index -53.84 points or -1.26% at 4224.15
- NASDAQ index is down -202.38 points or -1.53% at 12983.80
For the trading week, the NASDAQ fell over 3%.
- Dow industrial average fell -1.61%
- S&P index fell -2.39%
- NASDAQ index -3.16%
Helping to pressure the stocks into the close, is the S&P’s technical break and close below its 200-day moving average at 4233.13. It was the 1st close below that moving average since March 22.
S&P index closes below its 200 day moving average
Concerns about interest rates, the Middle East, Washington stagnation all contributed to anxiety in the US stock market. Next week a slew of earnings will be released including 4 of the so-called Magnificent 7 – Microsoft, Alphabet, Meta and Amazon. In addition, there are a number of other large cap names scheduled to announce their earnings (see the schedule here).