The Dow Jones Industrial Average declined for a fifth straight day Friday as economic uncertainty loomed.

The blue-chip index shed 271.66 points to close at 34,607.72. The S&P 500 dipped nearly 0.8% to 4,458.58, and the Nasdaq Composite retreated about 0.9% to 15,115.49.

Apple was the biggest laggard weighing on the Dow, down 3.3%. The tech giant can no longer force developers to use in-app purchasing, a federal judge ruled Friday in a closely watched trial between Apple and Epic Games.

The S&P 500 and the Dow haven’t recovered since the poor jobs report last Friday, falling each day since, including all four trading days of this holiday-shortened week.

For the week, the Dow is down roughly 2.2% in its second negative week in a row. The S&P 500 is off about 1.7% for the week, while the Nasdaq Composite is 1.6% lower.

Investors are worried about persistent Covid cases slowing the economy just as hot inflation causes the Federal Reserve to…

Read more…

Share.

Comments are closed.