Another rout hit Wall Street, leaving the market with its worst week in 18 months, after a jobs report billed as the most important of the year came in weak enough to keep worries high about the economy.
The S&P 500 fell 1.7% Friday. Broadcom, Nvidia and other tech companies led the market lower as worries continue that prices soared too high in the boom around artificial intelligence. That dragged the Nasdaq composite down 2.6%. The Dow Jones Industrial Average dropped 1%.
Treasury yields tumbled, recovered and then fell again after the jobs report showed employers hired fewer workers in August than expected.
On Friday:
The S&P 500 fell 94.99 points, or 1.7%, to 5,408.42.
The Dow Jones Industrial Average fell 410.34 points, or 1%, to 40,345.41.
The Nasdaq composite fell 436.83 points, or 2.6%, to 16,690.83.
The Russell 2000 index of smaller companies fell 40.65 points, or 1.9%, to 2,091.41.
For the week:
The S&P 500 is down 239.98 points, or 4.2%.
The Dow is down 1,217.67 points, or 2.9%.
The Nasdaq is down 1,022.79 points, or 5.8%.
The Russell 2000 is down 126.23 points, or 5.7%.
For the year:
The S&P 500 is up 638.59 points, or 13.4%.
The Dow is up 2,655.87 points, or 7%.
The Nasdaq is up 1,679.48 points, or 11.2%.
The Russell 2000 is up 64.33 points, or 3.2%.
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
