Stocks ended Friday mixed at the end of another volatile session as the three major market indices struggled to progress amid other large tech sell-off. The S&P 500 and Dow Jones were able to end the session with small gains, by the Nasdaq sank over 6% to close out its worst week since March's lows. All three benchmarks posted weekly declines, with the Nasdaq falling 4%, S&P 500 dropping about 2% and the Dow sinking 1.5%. The Nasdaq is currently 10% of its recent all-time record, bringing it further towards correction territory.
Meanwhile, the Department of Labor's consumer price index rose in August, the third consecutive month of gains. The core measure of the index, which excludes more volatile prices like food and energy, rose above consensus estimates at 0.4% month-to-month in August and 1.7% year-to-year.
"The monthly increase in the seasonally adjusted all items index was broad-based; a sharp rise in the used cars and trucks index was the largest factor, but the indexes for gasoline, shelter, recreation and household furnishings and operations also continue,' the agency said in a statement.
Here's how the market closed out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
For Major Stock News, mega-cap tech shares fell broadly as the Nasdaq slumped--Amazon
For Sector Performance, industries ended the volatile trading session mixed, with the majority of sectors gaining. The positive performance gains were as follows: Industrials +1.39%, Materials +1.31%, Financials +0.76%, Consumer Staples +0.61%, Health Care +0.39%, Utilities +0.33% and Energy +0.26%. The negative performance losses included Information Technology -0.75%, Consumer Discretionary -0.32%, Communication Services -0.29%, and Real Estate -0.28%.
For Commodities and Currency, the U.S. Dollar
For the week ahead, the Federal Reserve on Tuesday will hold its last monetary policy meeting before the U.S. presidential election.