Daily Voice News – Economic Collapse
Dow’s worst week since 2008 financial crisis; Nasdaq closes in bear market
The Dow just suffered its deepest weekly plunge since 2008 and the Nasdaq is officially in a bear market.
The miserable performance reflects deepening fears on Wall Street of an economic slowdown and overly-aggressive Federal Reserve.
The Dow closed 414 points, or 1.8%, lower on Friday. The Nasdaq plummeted 3%, closing in its first bear market since the Great Recession. And the S&P 500 shed 2.1%.
Technology stocks fell Friday on continued negative sentiment about the US-China trade relationship, regulation and a general adversity to risk. Facebook (FB) slumped 6%, Apple (AAPL) declined 4%, Twitter (TWTR) lost 7% and Netflix (NFLX) fell 5%.
US Stock Market Collapse ! – The Dow’s worst week since the 2008 financial crisis