US stocks opened the week with a flourish and ended with a thud, SİA informs citing the France 24.
Monday's trade saw the tech-rich Nasdaq Composite Index bolt above 5,000 for the first time in 15 years in a charge that also lifted the Dow and S&P 500 to fresh records.
But the market spent the rest of the week playing defense, falling three of the four subsequent days, including a plunge Friday on renewed concerns about tighter monetary policy.
For the week, the Dow Jones Industrial Average shed 275.92 points (1.52 percent) at 17,856.78, while the broad-based S&P 500 fell 33.24 (29.78 percent) to 2,071.26.
The Nasdaq dropped 36.16 (0.73 percent) to 4,927.37.
Analysts said the week's losses suggested a market entering a "consolidation" phase after a torrid February.
"This week, the market seems to have stalled out like an automobile that's run out of gas," said Hugh Johnson of Hugh Johnson Advisors.
"The market has come very far, very fast in February and early March and it has become pricey and somewhat overvalued in the mind of many savvy professional investors."
Bütün xəbərlər Facebook səhifəmizdə
USD
EUR
GBP
RUB