US stocks ended their worst week since June on Friday, despite a rebound in technology shares in the final session.
The S&P 500 fell roughly 3% over the week, according to market summaries, with the technology-heavy Nasdaq falling further and the Dow Jones Industrial Average losing about 1%. Thursday brought the sharpest selling, led by technology stocks.
Investors weighed the shift to a Democratic Congress, a stronger-than-expected October jobs report that market commentators said raised the chance of a further Federal Reserve rate rise in December, and the continuing US blockade of Iran, which has kept oil and petrol prices elevated.
Analysts note that divided government has historically limited major new legislation — something many investors welcome — but warn that months of congressional investigations could add to uncertainty.
Sources: The Closing Print, Yahoo Finance.
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