Stocks End Lower on Renewed Worries over Euro Zone Debt Crisis
Stocks ended lower in trading on Friday, snapping a three-day winning streak. Stocks tumbled on renewed worries over the euro zone debt crisis. Some mixed earnings reports also weighed down investors’ sentiment. However, all three major indexes posted gains for the week.
The Dow Jones ended the day 0.93% lower at 12,822.57, the S&P 500 ended the day 1.01% lower at 1,362.66, and the Nasdaq ended the day 1.37% lower at 2,925.30.
For the week, the Dow Jones rose 0.36%, the S&P 500 rose 0.43%, and the Nasdaq rose 0.57%.
All sectors in the S&P 500 finished sharply lower on Friday. Transportation sector led the losses in the S&P 500 on Friday, ending the day 1.82% lower. Financials also fell sharply, ending the day 1.63% lower. Consumer Cyclical sector ended the day 1.59% lower. Basic Materials sector ended the day 1.07% lower, while Energy sector ended the day 0.48% lower.
Among the major losers in trading on Friday were Cepheid (NASDAQ: CPHD), which ended the day 17.65% lower at $36.01, Chipotle Mexican Grill Inc. (NYSE: CMG), which ended the day 21.51% lower at $316.98, Acacia Research Corporation (NASDAQ:ACTG), which ended the day 14.25% lower at $34.08, and Advanced Micro Devices Inc. (NYSE: AMD), which ended the day 13.17% lower at $4.22.
Among the major gainers on Friday were SanDisk Corporation (NASDAQ: SNDK), which ended the day 10.32% higher at $38.70, Baker Hughes Incorporated (NYSE: BHI), which ended the day 9.20% higher at $45.59, and Google Inc. (NASDAQ: GOOG), which ended the day 2.99% higher at $610.82.
European markets also tumbled on Friday, with the FTSE 100 Index in London ending the day 1.09% lower at 5,651.77, and the CAC 40 Index in Paris ending the day 2.14% lower at 3,193.89. Asian markets ended on a mixed note on Friday.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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