Stock market today: Wall Street falls sharply to close out its worst week since October
NEW YORK (AP) — U.S. stocks tumbled Friday following a mixed start to earnings reporting season. Worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money.
The S&P 500 sank 1.5% to close out its worst week since October, when a huge rally on Wall Street began. The Dow Jones Industrial Average dropped 475 points, or 1.2%, and the Nasdaq composite fell 1.6% from its record set the day before.
JPMorgan Chase was one of the heaviest weights on the market and sank 6.5% despite reporting stronger profit for the first three months of the year than analysts expected. The nation’s largest bank gave a forecast for a key source of income this year that fell below Wall Street’s estimate, calling for only modest growth.
The pressure is always on companies to produce fatter profits. But it’s particularly acute now given worries that the other main lever that sets stock prices, interest rates, may not offer much lift in the near term.
Related articles
Verona confirms Serie A status for another year after beating Salernitana
SALERNO, Italy (AP) — Verona secured a place in next year’s Serie A after beating Salernitana 2-1 on2024-05-21Ryan Gosling shares 'odd piece of advice' co
Ryan Gosling shared the odd advice he got from the late Burt Reynolds while promoting his new film o2024-05-21Arriaga, Oluwaseyi lead Minnesota United over Atlanta United 2
ATLANTA (AP) — Kervin Arriaga and Tani Oluwaseyi scored six minutes apart in the second half and Min2024-05-21Taylor Pendrith leads Byron Nelson as one of several seeking first PGA Tour victory
McKINNEY, Texas (AP) — Taylor Pendrith has been here before — holding or sharing a lead after three2024-05-21Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
PRISTINA, Kosovo (AP) — Kosovo’s Cabinet renewed efforts with a new draft law on renting a prison in2024-05-21UCLA men's volleyball beats LBSU 3
LONG BEACH, Calif. (AP) — Ethan Champlin had 15 saves and six blocks, Merrick McHenry added 10 kills2024-05-21
atest comment