Market Snapshot: Dow closes at lowest since March as S&P 500 joins Nasdaq in correction territory

by | Oct 27, 2023 | Stock Market

U.S. stocks capped off a volatile week with more losses on Friday and only the Nasdaq finishing in the green as the S&P 500 index joined the tech-heavy gauge in correction territory. What happened
The S&P 500
was down 19.86 points, or 0.5%, to 4,117.37.

The Nasdaq Composite
gained 47.41 points, or 0.4%, to 12,643.01.

The Dow Jones Industrial Average
shed 366.71 points, or 1.1%, to 32,417.59.

U.S. stocks booked heavy losses this week, with the Dow Jones Industrial Average seeing its biggest drop since the week ended Aug. 18, according to Dow Jones Market Data.

Both the S&P 500 and Nasdaq entered correction territory this week, and are poised for their worst October performance since 2018.What drove markets U.S. stocks endured another difficult week, with the S&P 500 falling during four out of five trading days to log its biggest weekly drop in more than a month, according to Dow Jones Market Data. The S&P 500 logged its lowest close since May 24, according to Dow Jones data, while the Dow saw its lowest close since March 28. The S&P 500 has also fallen 10.3% since its July 31 closing high, leaving it in correction territory. Investors typically define a correction as a drop of 10% or more from a recent high. See: S&P 500 index enters a correction. Here’s what it means for future performance. All three major U.S. equity indexes finished lower on the week, the sixth such decline in eight, as a selloff that began in early August continued to gather pace. The market got a brief reprieve earlier after Amazon …

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