Wall Street had a rough day on Friday, marking the worst drop in stocks since Election Day. The excitement from last week’s news—Donald Trump’s election win and an interest rate cut by the Federal Reserve—seems to be wearing off.
The market’s big players, like the S&P 500, Dow Jones, and Nasdaq, all ended the day deep in the red. Vaccine makers, including Moderna, were among the hardest hit after President-elect Trump announced Robert F. Kennedy Jr., known for his anti-vaccine stance, as his pick for health secretary. Adding to the market’s chaos, fresh economic reports came in stronger than expected, shaking up Treasury yields.
Here’s how things shaped up on Friday:
- S&P 500: Dropped 1.3%, losing 78.55 points to close at 5,870.62.
- Dow Jones: Fell 0.7%, shedding 305.87 points to land at 43,444.99.
- Nasdaq: Took the hardest hit, down 2.2% (427.53 points), closing at 18,680.12.
- Russell 2000: Smaller companies weren’t spared either, slipping 1.4% (33.10 points) to 2,303.84.
How did the week look overall?
It wasn’t great. All major indexes finished the week lower:
- S&P 500: Down 2.1%.
- Dow Jones: Lost 1.2%.
- Nasdaq: Dropped a hefty 3.1%.
- Russell 2000: Shrunk by 4%.
But for the year so far, things are still looking up:
Despite the recent drop, the stock market has had a strong year overall:
- S&P 500: Up a solid 23.1%.
- Dow Jones: Gained 15.3%.
- Nasdaq: Leading with a 24.4% increase.
- Russell 2000: Grew by 13.7%.
What does it all mean?
In simple terms, stocks took a big hit this week, but the market has still made impressive gains for the year. It’s a rollercoaster ride, as usual, with politics, economic reports, and investor emotions all playing their part. If you’re keeping an eye on the markets, buckle up—more ups and downs are likely ahead!
