Wall Street stocks slide to close week lower
Los Angels —
Stocks fell on Friday despite a Thursday rally, closing a volatile week trading lower.
The Dow Jones Industrial Average slide 0.83% to 34,618.24, wiping out Thursday’s 332 point rally.
The S&P 500 dropped 1.22% to 4,450.32 in its second losing week in a row.
The Nasdaq Composite fell 1.56% to 13,708.33 leading the drop while also suffering a second straight week of losses.
Friday’s moves come as The Big Three automakers face a historic strike from the United Auto Workers Union, though automaker stocks proved to be resilient.
Ford slipped 0.1% while GM rose 0.8% while Stellantis gained 1.9% in Italy’s Milan Stock Exchange.
Investors are watching for economic updates from the Federal Reserve’s interest rate policy meeting next week, and anticipate rates to hold steady.