NEW YORK (Reuters) – U.S. stocks closed sharply lower in a broad sell-off on Friday, ending a week buffeted by strong economic data, corporate tax hike worries, the Delta COVID variant, and possible shifts in the U.S. Federal Reserve’s timeline for tapering asset purchases.
The stock market moved lower again on Friday, finishing another losing week for the S&P 500 (SNPINDEX: ^GSPC) and other major market benchmarks. Bucking the recent trend, the Nasdaq Composite (NASDAQINDEX: ^IXIC) suffered bigger losses on a percentage basis than the Dow Jones Industrial Average (DJINDICES: ^DJI), and none of the indexes recovered too much from their lows of the day. With stocks going through a bit of a slump, some investors are getting nervous that the bull market might be coming to an end.
Stocks fell on Friday as traders continued to digest a slew of mixed economic data and its implications for monetary policy. Jim Smigiel, Chief Investment Officer at SEI and Shannon Seery, Wells Fargo Economist joined Yahoo Finance Live to discuss.