NEW YORK (Pakistan Point News / Sputnik - 27th February, 2021) Stocks on Wall Street fell broadly for the week, with technology index Nasdaq posting its worst loss since late October, as players slashed risk and took profit on four straight months of gains.
Nasdaq, which includes stocks of tech giants such as Facebook, Apple, Amazon, Netflix and Google, closed down almost 5 percent at 13,192.34 on Friday. That was the worst weekly loss for Nasdaq since the week ending October 25, when it lost 5.5 percent. The tech-heavy index hit a record high just a week ago, touching 14,175.
The S&P 500, a barometer for the top 500 US stocks, closed the week down 2.4 percent at 3,813. The Dow Jones Industrial Average, the broadest gauge of the New York Stock Exchange, fell 1.8 percent to 30,932.
