Stock market today: Wall Street falls sharply to close its worst week in nearly 18 months
FILE - People pass the New York Stock Exchange, at rear, on Aug. 27, 2024, in New York. (AP Photo/Peter Morgan, File)
NEW YORK (AP) — Another rout hit Wall Street Friday, with formerly high-flying technology stocks again taking the brunt, after a highly anticipated update on the U.S. job market came in weak enough to add to worries about the economy.
The S&P 500 dropped 1.7% to close out its worst week since March 2023. Broadcom, Nvidia and other tech companies led the market lower as worries continue that their prices soared too high in the boom around artificial intelligence, and they dragged the Nasdaq composite down by a market-leading 2.6%.
The Dow Jones Industrial Average dropped 410 points, or 1%, after erasing a morning gain of 250 points.
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