Stocks Crumble to a Losing Week with Dow Down 500+

Stocks Crumble to a Losing Week with Dow Down 500+

(MENAFN- Baystreet. ca) Stocks Crumble to a Losing Week with Dow Down 500+ Advertisment U. S. stocks came under pressure again in Friday's volatile session with major averages on track for a losing week amid worries about tighter monetary policy and the ongoing pandemic. The Dow Jones Industrials floundered 532. 20 points, or 1. 5%, to conclude the week at 35, 365. 94The S&P 500 index dumped 48. 03 points, or 1%, to 4, 620. 64. The NASDAQ sank 10. 75 points at 15, 169. 68, Friday coincided with the expiration of stock options, index options, stock futures and index futures — a quarterly event known as 'quadruple witching' that typically comes with heightened volatility. The major averages were on track to post a negative week with the NASDAQ being the biggest loser. The tech-heavy benchmark declined 2. 9%, while the Dow and the S&P 500 were both down more than 1. 5%. The S&P financial sector was the biggest laggard on Friday after bank stocks outperformed in the previous session. Goldman Sachs lost nearly 4%, while Bank of America and JPMorgan both traded over 2% lower. Many megacap tech shares traded in the red. Amazon and Microsoft both lost