Wall Street Rally Fizzles

Markets suffer modest drops to end the week
By Newser Editors and Wire Services
Posted Jun 21, 2019 3:17 PM CDT
In this June 11, 2019, file photo specialist Anthony Rinaldi talks with colleagues on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks ended a wobbly day slightly lower on Wall Street as a weeklong rally fizzled out. The modest losses Friday came a day after the S&P 500 set a record closing high. On Friday, the Dow Jones Industrial Average also briefly traded above the all-time closing high it reached in October. The S&P 500 fell 3 points, or 0.1%, to 2,950, though it's up 7.2% so far in June. The Dow Jones Industrial Average lost 34 points, or 0.1%, to 26,719, and the Nasdaq dipped 19 points, or 0.2%, to 8,031, per the AP. Technology and industrial companies led the way lower: PayPal lost 2.2% and FedEx gave up 1.5%. The price of oil continued to climb and rose more than 9% for the week as tensions between the US and Iran increased.

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