Stocks Are Down Across the Board on Uneven Data

One analyst sees 'short-term quiet and long-term uncertainty'
By Newser Editors and Wire Services
Posted Jul 16, 2021 4:05 PM CDT
On Mixed Reports, Stocks Drop Across the Board
Bridge Investment Group Chairman Robert Morse, second from right, rings a ceremonial bell when his company's IPO begins trading Friday on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

Stocks ended a wobbly week broadly lower Friday, with a good part of the loss attributable to weakness in big technology companies like Apple and Amazon. The Dow fell 299.17 points, or 0.9%, to 34,687.85; the S&P 500 dropped 32.87 points, or 0.8%, to 4,327.16; and the Nasdaq slid 115.90 points, or 0.8%, to 14,427.24, the AP reports. All three were down for the week, as well, per the Wall Street Journal. For the S&P, it was the first weekly loss after posting gains for three straight weeks.

Investors were dealing with mixed data about the economy, and inflation was a factor after a concerning report Tuesday. But major indexes still are up close to records. "I kind of think of it as short-term quiet and long-term uncertainty," one analyst said, per the Journal. Small-company stocks continued to badly lag the rest of the market, a signal that investors could be becoming more concerned about how strongly the economy will keep growing in coming months.

(More stock market stories.)

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