Tuesday, June 18, 2024
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Here’s what happened to the stock market on Friday


Dow Jones Industrial Average falls 208 points

The Dow dropped 208.64 points, or 0.8%, to close at 25,871.46. The S&P 500 slipped 0.5% to end the day at 3,097.92. The Nasdaq Composite was flat at 9,946.12. 

Volatile end to an up week

The major averages rolled over around midday after Apple said it would reclose some of its stores, citing the recent coronavirus spikes in certain states. The Dow — which had gained more than 300 points to start the session — was down more than 300 points at its session low. Trading was also volatile amid a major S&P 500 index rebalancing. Despite the choppy trading action, the major averages posted their fourth weekly gain in five. 

Apple hits another record, then falls

Apple shares closed 0.6% lower. Earlier in the day, the stock reached an all-time high. Shares of companies primed to benefit from the economy reopening dipped. United closed 6% lower while Carnival and Kohl’s dropped 5% each.

What happens next?

Existing home sales data are set for release Monday.

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