Stock market news today: S&P 500, Nasdaq post sharpest weekly losses since April amid tech rout

Category: Finance

US stocks declined on Friday due to a global IT outage affecting major companies, with the S&P 500 down 0.7% and the Nasdaq Composite down 0.8%. The Dow snapped a winning streak, falling nearly 1%. Investors shifted focus from tech giants to small caps amid concerns over the outage's impact, which was later mitigated by CrowdStrike's announcement of a fix. Donald Trump announced plans to end the electric vehicle mandate, influencing market sentiment ahead of upcoming earnings reports from major companies.

Keywords: US stocks, IT outage, Donald Trump

Source: Yahoo Finance

Update At: 7/22/2024

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