Wall Street closes lower to end rocky week - Reuters — SkimNews
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- Dow tumbled more than 600 points amid rising oil prices and a broad market sell-off, dragging down most sectors.
- S&P 500 closed lower as investor anxiety over high oil prices and economic uncertainty fueled a risk-off shift across equities.
- Nasdaq edged higher despite a sharp tech sell-off earlier in the week, signaling some stabilization in growth stocks.
- Oil prices remained above $100, contributing to market volatility and reinforcing investor concerns about inflation and energy costs.
Why it matters: The divergence between the Nasdaq’s recovery and the Dow’s steep drop highlights shifting investor priorities—tech may be stabilizing even as energy costs pressure industrial and consumer sectors. With oil sustaining $100+ levels, capital continues flowing out of rate-sensitive equities into safer assets, altering the near-term risk calculus for portfolios.
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