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Stocks Settle Lower as Bank Shares Tumble and Tech Stocks Fall
Barchart - Fri Feb 27, 3:40PM CST
The S&P 500 Index ($SPX) (SPY) on Friday closed down -0.43%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -1.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.30%. March E-mini S&P futures (ESH26) fell -0.47%, and March E-mini Nasdaq futures (NQH26) fell -0.38%.
Stock indexes on Friday added to Thursday’s losses, with the Dow Jones Industrial Average falling to a 3.5-week low as the disruptive potential of AI weighed on markets. Bank stocks tumbled on Friday as the collapse of the UK’s private lender Market Financial Solutions Ltd added to fears that banks could face rising defaults. Also, the weakness in software companies and cybersecurity stocks weighed on the broader market. In addition, stocks fell after the US Jan PPI report rose more than expected, dampening any speculation that the Fed would cut interest rates in the near term.
Stock indexes recovered from their worst levels on Friday after the Feb MNI Chicago PMI and Dec construction s... Read more
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