Stock market today: Wall Street slips as S&P 500 has its worst week since April
U.S. stocks closed lower, extending a slump that left Wall Street with its worst week since April
NEW YORK (AP) — U.S. stocks closed lower, extending a slump that left Wall Street with its worst week since April. The S&P 500 fell 0.7% Friday, its third straight drop since setting a record high on Tuesday. The Dow Jones Industrial Average sank 0.9%, and the Nasdaq composite lost 0.8%. The losses came as businesses around the world scrambled to contain the effects of a disruptive technology outage. Cybersecurity firm CrowdStrike sank after saying the issue believed to be behind the global outage affecting flights, banks and medical offices lay in a faulty update sent to computers running Microsoft Windows. Treasury yields ticked higher.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
NEW YORK (AP) — U.S. stocks are slipping Friday, as businesses around the world scramble to contain the effects of a disruptive technology outage.
The S&P 500 was 0.6% lower in afternoon trading, a day after a widespread wipeout dragged down much of the market, and it's on track to close its worst week in months. The Dow Jones Industrial Average was down 384 points, or 1%, as of 1:57 p.m. Eastern time, and the Nasdaq composite was 0.8% lower.
