Dow Bounces More Than 300 Points Friday, Still Ends Week Down 5 Percent - NECN

Dow Bounces More Than 300 Points Friday, Still Ends Week Down 5 Percent

The Dow dropped 1,032 points Thursday, its second drop of that magnitude this week

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    NEWSLETTERS

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    AP Photo/Richard Drew
    This Feb. 6, 2018, photo shows trader George Ettinger, center, working on the floor of the New York Stock Exchange.

    The Dow Jones industrial average rebounded more than 300 points Friday, paring deep losses for investors in what still amounted to the worst week in two years.

    The Dow ended the day up 330.44 points, or 1.38 percent, closing at 24,190.90. The S&P 500 rallied 1.49 percent to finish at 2,619.55, while the Nasdaq composite added 1.44 percent to close at 6,874.49. The index swung more than 1,000 points in volatile trading Friday.

    The Dow and the S&P 500 both lost 5.2 percent on the week, while the Nasdaq shed 5.1 percent as rising interest rates spooked investors. The Dow average experienced two drops of more than 1,000 points and two gains of more than 300 points during this volatile week. At their lows this week, all three major indexes were in correction territory from the record highs reached in January.

    The Dow dropped 1,032 points Thursday and the aveage posted its worst point drop in history on Monday, closing 1,175 points lower. Monday's decline of 4.62 percent was also its worst daily percentage drop since Aug. 10, 2011, when it also fell 4.62 percent.

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