Major indices have their worst week since January. NASDAQ index tumbles -5.6%

The stronger than expected CPI reversed premarket stock gains and pushed the major  indices  lower. A weaker Michigan consumer sentiment didn’t help with the overall sentiment.

  • The weekly percentage declines in the Dow, S&P, and  NASDAQ  weeks was the worst since January 21
  • Major indices closed near lows for the day
  • Dow Jones is down 10 of the last 11 weeks
  • NASDAQ and S&P is down 9 of the last 10 weeks
  • All 11 S&P sectors were lower. The worst sector was consumer discretionary which fell over -4.1%. Technology fell -3.9%, Financials fell -3.65%. Consumer staples was the best performer at -0.38%

The final numbers for the day are showing:

  • Dow industrial average fell -880.02 points or -2.73% at 31392.80
  • S&P index fell -116.96 points or -2.91% at 3900.85
  • NASDAQ index fell -414.19 points or -3.52% at 11340.03
  • Russell 2000 fell -50.57 points or -2.73% at 1800.28

For the trading week:

  • Dow fell -4.58%
  • S&P index fell -5.08%
  • NASDAQ index fell -5.6%
  • Russell 2000 fell -4.41%

Looking at the Dow 30, the worst performers were:

  • Dow, -6.06% -6.06%
  • Goldman Sachs -5.48%
  • Boeing, -5.05%
  • J.P. Morgan, -4.65%
  • Salesforce, -4.6%

The only winning stock in the Dow was Walmart with a gain of +0.63%. The best of the worst showed:

  • Verizon fell -0.16%
  • Procter & Gamble fell -0.36%
  • Walgreens boots fell -0.43%
  • Coca-Cola fell -0.58%

After the close Tesla has proposed a 3 for1 stock split. The stock closed at $696.69. In after-hours trading it is trading up to $716.23.

Amazon shares went through their 20 for 1 stock split this week. For the week after a rise on Monday, the shares are ending the week down -10.38%.

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