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Market Slips as Strong Week Ends

Winning streak ends at 4 days
By Newser Editors and Wire Services
Posted Feb 7, 2020 4:20 PM CST
Market Stalls at End of Strong Week
Specialist Meric Greenbaum, center, works with traders at his post on the floor of the New York Stock Exchange, during a secondary stock offering Thursday.   (AP Photo/Richard Drew)

(Newser) – Wall Street closed out the market's best week in eight months Friday with a broad slide as technology and health care stocks gave back some of their recent gains. The pullback, which followed a sell-off in markets around the world, snapped a four-day winning streak for the major U.S. stock indexes. Even so, the benchmark S&P 500 notched its biggest weekly gain since June, the AP reports. The S&P 500 fell 18.07 points Friday, or 0.5%, to 3,327.71. That trims its gain for the week to 3.2%. The Dow Jones Industrial Average dropped 277.26 points, or 0.9%, to 29,102.51. The Nasdaq slid 51.64 points, or 0.5%, to 9,520.51. In a sign of the market's caution, Treasury yields fell as prices for ultra-safe U.S. government bonds rose. The yield on the 10-year Treasury dropped to 1.58% from 1.64% late Thursday. (Read more stock market stories.)

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