Fears that a selloff in technology stocks would spur a deeper rift in equities were assuaged as the S&P 500 Index ended the week little changed, despite continued weakness in some of market’s biggest winners.
The Nasdaq 100 fell 1.1 percent, bringing its two-week drop to 3.4 percent, the worst slide of that length since November. The culprit was the same handful of hot stocks -- Apple Inc., Netflix Inc. and Microsoft Corp. -- that began a quick descent last Friday.
Yet in a week that included an interest rate hike by the Federal Reserve, an attack on congressional representatives in Washington, political uncertainty and a market-moving buyout of Whole Foods Market by Amazon, the broader market remained largely unmoved.
Source: Bloomberg Pro Terminal
Jr Trader Ivan Ivanov
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