Wall St fell Friday as oil kept climbing and breadth turned notably negative (having initially held up during the Thursday night tech rout). Dow Jones down 653 points. S&P 500 down 0.52%. Nasdaq down 0.21%. Russell 2000 down 0.29%. Mag7 down 0.54%. SOX up 0.44%. SaaS up 1.7%.
ASX set to fall today. SPI Futures down 43 points or 0.5%.
For the week, the S&P 500 fell 0.47% and the Nasdaq dropped 0.71% as Meta reignited AI debt concerns and Middle East dysfunction continued. Mag7 down 1.70%. The SOX fell 3.21%, most of the damage done on Thursday night. The ASX 200 was near flat for the week, with a big rotation as banks rose 5.01%, resources fell 7.15% and the gold sector was smashed 10.08%. Asia was weak – Hong Kong fell 4.52% for the week, Japan down 2.46%, KOSPI down 2.08%. Europe not much better.
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