S&P500 +2.13%(2,781.01); NASDAQ +0.68% (7,406.90); DJIA +2.84% (25,989.30)
This week’s reports:
- US stocks slumped at the end of the week as renewed concerns about global growth and trade tensions weighed on shares of everything from technology to materials to energy companies. As global growth concerns rose, investors sold the tech stocks, whose growth they see as risky and which have exposure to China. A slump in the price of oil also weighed on stocks.
- Shares still finished the week with gains after the week’s rally prior to Friday’s declines. Uncertainty about the Midterm election results was one of the factors driving October’s stock-market rout, so the market cheered when that uncertainty was lifted.
- In its meeting last week, the Federal Reserve stayed on course to hike in December; policymakers forecast “further gradual increases,” citing strong economic activity and job growth.