US stock market closes out its worst week in two years, interrupting a prolonged rally

0

NEW YORK, N.Y. – The U.S. stock market is closing out its worst week in two years.

Traders moved money into investments traditionally seen as having lower risk Friday, such as U.S. government bonds, gold and utility stocks.

Energy stocks fell after Chevron reported weaker oil and gas production.

The Dow Jones industrial average lost 69 points, or 0.4 per cent, to 16,493. The Dow has lost 387 points over the past two days. The slump interrupted five months of steady gains.

The Standard & Poor’s 500 index fell five points, or 0.3 per cent, to 1,925. The S&P 500 lost 2.7 per cent this week, the biggest loss since June 2012.

The Nasdaq fell 17 points, or 0.4 per cent, to 4,352.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.49 per cent.

Leave a comment

Your email address will not be published. Required fields are marked *