Dhaka, Bangladesh (BBN) – US stocks finished mixed after a wild session Friday, with the Dow gyrating more than 400 points throughout the day, as investors remained jittery over the state of the global economy.
On Monday, US stocks took a sharp nosedive to finish at session lows as investors fled from risky assets following S&P’s downgrade of US’s credit rating in addition to ongoing economic jitters, a weekly review report said.
Tuesday observed stocks registering its biggest one-day gain since May 2010 after a wild market session as investors snapped up beaten-down stocks and following a Fed statement to keep interest rates near zero for at least two more years.
These gains were reversed on Wednesday as investors continued to cautiously monitor developments in the European banks. Over the week, the Dow Jones Industrial average shed off 1,582.61 points or 12.86 percent to settle at 10,719.94 points; the NASDAQ Composite settled at 2,381.05 points, down 13.88 percent or 383.74 points for the week.
BBN/SSR/SI-12Aug11-2:42 pm (BST)
