⁍ The CBOE volatility index closed just below a 20-week high.
⁍ The main indexes pared steeper losses toward the closing bell, with the Dow down less than 1%.
⁍ The S&P 500 has fallen about 8.9% since hitting an all-time high in early September.
– It’s a brutal day on Wall Street. The Dow fell more than 400 points, or 1.6%, at the open. The S&P 500 and Nasdaq were down more than 1.5% and 1.6%, respectively. It was the Dow’s biggest weekly drop since March, per Reuters. The sell-off was broad-based, with all three major indexes down more than 1%. Apple was the biggest decliner in the S&P 500, down 5.6% after it reported disappointing iPhone sales, while Amazon and Facebook fell more than 5%. “There is a big selloff in those big tech names because they didn’t live up to the hype and people are really worried about next week’s election,” one investment officer at Bokeh Capital Partners in Pittsburgh tells Reuters.
Source: https://www.reuters.com/article/us-usa-stocks/tech-slide-pandemic-surge-slam-wall-street-biggest-weekly-loss-since-march-idUSKBN27F1IT