U.S. stocks experienced another week of losses, with both the Dow and the S&P 500 index continuing their downward trend. The recent surge in Treasury yields and ongoing worries about potential escalation in the Middle East have put pressure on global stock markets. Despite some brief rebounds, the Dow saw its fourth weekly loss out of five, while the S&P 500 extended its declining streak for the fourth consecutive week, equaling the four-week stretch in September.
S&P 500 Closes Below 200-Day Moving Average
On Friday, the S&P 500 index (SPX) closed at 4,224.16, marking a decline of 53.84 points or 1.3%, according to preliminary closing data from FactSet. This drop led to the index closing below its 200-day moving average for the first time since March 17, as confirmed by Dow Jones data. The S&P 500's breach of this key technical level signals growing bearish sentiment in the market.
Dow Jones and Nasdaq Composite Also Experience Losses
The Dow Jones Industrial Average (DJIA) followed suit, falling by 286.89 points or 0.9% to reach 33,127.28. Meanwhile, the Nasdaq Composite (COMP) declined by 202.37 points or 1.5%, closing at 12,983.81.
Despite these setbacks, it's important to note that the market landscape remains uncertain and subject to change. Investors will closely monitor developments in Treasury yields and geopolitical tensions to gain further insight into future market movements.
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