Wall Street slipped again on Friday, but with losses not as large as earlier in the week.
- The S&P fell by 9 points to 4,320.
- The Dow fell 106 points to 33,963.
- The Nasdaq fell 12 points to 13,211.
- For the week, the S&P was down about 3%, the Nasdaq more than 3%, and the Dow about 2%, per CNBC.
Pressure built on Wall Street this week after the Federal Reserve indicated it's unlikely to cut its main interest rate by as much in 2024 as investors had hoped, per the AP. Tech stocks in particular have been hit hard, though Nvidia trimmed its loss for the week to 5% after rising 1.7% Friday. Activision Blizzard rose 1.7% after UK regulators gave preliminary approval to Microsoft's restructured $69 billion deal to buy the video-game maker.
Shares of automakers were mixed even after the United Autoworkers said Friday it will expand its strike by walking out of 38 General Motors and Stellantis plants in 20 states. The union did not broaden its limited strike against Ford, which it said has met some of the union's demands in talks this week. Ford rose 2.2%, and General Motors fell 0.4%. Stellantis rose 0.3%.
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