Times-Herald

Stocks headed for another weekly loss

Stocks wobbled in morning trading on Wall Street Friday and are still on track for another week of losses in what has been a miserable opening to the year.

The S&P 500 fell 0.1% as of 10:23 a.m. Eastern and is close to shedding more than 10% of its value from the record high it set on Jan. 3., which puts it on track to close in what market watchers call a "correction."

The Dow Jones Industrial Average fell 135 points, or 0.4%, to 34,036 and the Nasdaq was relatively unchanged.

Bond yields were steady. The yield on the 10-year Treasury remained at 1.81% from late Thursday.

Both the S&P 500 and the Dow are on track for their fourth weekly loss in a row and the Nasdaq is headed for its fifth straight weekly loss. Broad weekly losses like this haven't hit the market since September 2020.

Industrial stocks and banks fell and weighed down the market, but big technology companies and communications stocks made gains and countered the losses elsewhere.

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2022-01-28T08:00:00.0000000Z

2022-01-28T08:00:00.0000000Z

https://thnews.pressreader.com/article/281505049609739

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