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Stock Market Just Finished Worst Week in 7 Years

Dow falls 414 on another brutal day
By Newser Editors and Wire Services
Posted Dec 21, 2018 3:20 PM CST
Stock trader Michael Milano works at the New York Stock Exchange, Wednesday, Dec. 19, 2018.   (AP Photo/Mark Lennihan)

(Newser) – Another day of big losses left the stock market with its worst weekly drop in more than seven years. The benchmark S&P 500 index ended a brutal week down 7% Friday, led by big drops in former market favorites like Facebook and Amazon. The S&P fell 50 points, or 2.1%, to 2,416. The Dow Jones Industrial Average fell 414 points, or 1.8%, 22,445. The Nasdaq fell 195 points, or 3%, to 6,332.

Major US indexes are now 16% to 26% below the peaks they reached in the summer and early fall, according to the AP. Investors fear a recession is coming, and barring huge gains during the upcoming holiday period, when trading is usually quiet, this will be the worst December for stocks since the 1930s.

(Read more stock market stories.)

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