- Major US exchanges fell on Friday as investors worried about the consequences of the recent retail-induced frenzy on financial stability.
- The S&P 500 and the Dow erased their gains for the year.
It was an ugly end to the week in Wall Street with the three main indices falling and neither sector was spared the selling pressure; the S&P 500 fell back to 3,700, losing 1.9% on the day and 3.3% on the week, the Dow Jones Industrial Average fell back to the 30,000 level, also 1.9% on the day and 3.3% on the week, while the Nasdaq 100 fell 2.1% to go back below 13,000, losing 3.5% week. Friday’s sell-off caused the S&P 500 and Dow to erase their annual gains; For the year, the S&P 500 is down 1.1%, the Dow is down 2.0%, while the Nasdaq 100 is still in positive territory.
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