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The S&P 500 Index entered correction territory Friday – having fallen more than 10% from its end-of-July peak – as concerns over high interest rates and the economy kept investors on the defensive. Technology shares provided one exception, as better-than-expected earnings from Amazon and Intel helped the Nasdaq Composite eke out a modest gain. Banking and energy were among the weakest sectors Friday, with the latter under pressure despite strength in crude oil futures. Another leg down in small-cap shares suggested investors are growing increasingly concerned about the economy. For the week, the S&P 500 Index was down 2.5%, the Dow Jones Industrial Average fell by 1.1%, and the Nasdaq Composite dropped by 0.4%. Meantime, European equity markets extended their losses on Friday afternoon, with the DAX 40 and the Euro Stoxx 50 Index both falling to a nearly 10-month low.
Summary for 30.10.2023
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