Ammon News - Renewed selling on fears of a recession dragged the Dow Jones Industrial Average lower on Friday and pushed the S&P 500 into correction territory.
The 30-stock Dow fell 366.71 points, or 1.12% to close at 32,417.59.
The S&P 500 slipped 0.48% to finish the session at 4,117.37, closing 10.3% lower from this year’s peak on July 31.
The Dow was pressured by declines in JPMorgan Chase after CEO Jamie Dimon said he planned to sell 1 million shares next year.
The Nasdaq Composite held 0.38% higher to 12,643.01, thanks to shares of Amazon.
Amazon added more than 6% after the e-commerce giant trounced analysts’ expectations for revenue and earnings in the third quarter.
Other megacap tech stocks such as Microsoft followed Amazon shares higher.
CNBC
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