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Markets Lose for the Day, Gain for the Week

Dow falls 255
By Newser Editors and Wire Services
Posted Oct 18, 2019 3:10 PM CDT
In this Oct. 2, 2019, file photo specialist Michael Gagliano works at his post on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

(Newser) – Stocks closed lower on Wall Street Friday, weighed down by losses in technology and communications companies. Microsoft lost 1.6%, and Facebook gave up 2.4%. Makers of consumer products were bucking the downward trend, however. Coca-Cola rose 1.8% after turning in a solid quarterly earnings report. The market recorded its second weekly gain after three straight losing weeks. But on Friday, the S&P 500 fell 11 points, or 0.4%, to 2,986, per the AP. The Dow Jones Industrial Average fell 255 points, or 1%, to 26,770, and the Nasdaq fell 67 points, or 0.8%, to 8,089. Bond prices rose, and the yield on the 10-year Treasury fell to 1.75%.

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