Dow Struggles to Rebound, Heads for Worst Week in 9 Years

U.S. stocks were falling again on Friday as the Dow Jones industrial average headed for its worst week since October 2008.The Dow fell 500 points as of 1:37 p.m. ET; the index has swung more than 700 points in volatile trading. The S&P 500 dropped 1.7 percent to its lowest level since October while the Nasdaq composite fell 2 percent, joining the Dow and S&P 500 in correction territory. Kelly in Harsh Spotlight After Senior Aide’s Resignation “We’re seeing a lot of buying support early, but I think the key thing will be the final hour of the day,” said JJ Kinahan, chief market strategist at TD Ameritrade. “It’s been such a volatile week that people’s risk tolerance is lower.”The Dow dropped 1,032 points Thursday, its second drop of that magnitude this week. The recent turmoil in equities began last Friday, when the Dow fell 666 points after a better-than-expected jobs report ignited inflation fears. That fall was exacerbated Monday after the yield on the benchmark 10-year Treasury note hit a 4-year high, sending the Dow tumbling another 1,175 points as investors grew more nervous about an overheating economy. House Oversight Committee Launches Probe of Nassar Scandal Photo Credit: AP Photo/Richard Drew
Source: NBC San Diego