The Nasdaq closed sharply lower from record highs Friday as several big tech names sold off ahead of the Federal Reserve’s expected rate hike next week. The Nasdaq Composite Index closed down 113.85 points, or 1.8%, it’s largest one-day drop since May 17, at 6,207.92, with huge losses from Apple Inc. , Nvidia Corp. , Netflix Inc. , Alphabet Inc. and Amazon.com Inc. , to end the week 1.6% lower. The Dow Jones Industrial Average finished up 89.44 points, or 0.4%, at 21,271.79, for a 0.3% gain on the week. The S&P 500 index finished down 2.02 points, or 0.1%, at 2,431.77, with the tech sector plummeting 2.8%, offsetting a 2.5% gain in energy stocks. The S&P 500 finished 0.3% lower on the week.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News