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Dow drops 700, TX reverses reopen, Gap jumps 19% on Kanye collab


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4:42 pm: Down week by the numbers

  • The Dow fell 730 points, or 2.84%
  • The Dow fell 3.31% for the week, its second negative week in three
  • The Dow is down 1.45% month to date, on pace to break a two-month win streak
  • The S&P 500 fell 75 points, or 2.42%, its second negative session in three
  • The S&P 500 fell 2.86% for the week, its second negative week in three
  • The S&P 500 is down 1.16% month to date, on pace to break a two-month win streak
  • The Nasdaq Composite fell 260 points, or 2.59%
  • The Nasdaq fell 1.90% for the week, its second negative week in three
  • The Nasdaq is up 2.82% this month, on pace for its third positive month in a row
  • All 11 S&P sectors were negative in Friday’s session, led to the downside by communication services, down 4.49%. Utilities was the best performer, down 1.03%
  • All 11 Sectors were negative for the week, led to the downside by energy, down 6.44%. Tech was the best performer, down 0.45%. —Hayes

4:01 pm: Stocks clinch losing week with Friday selling

The major U.S. indexes all sank on Friday to lock in losses for the week. The Dow lost 730 points, or 2.8%, while the S&P 500 and Nasdaq lost 2.6% and 2.4%, respectively. —Pound

3:05 pm: Final hour of trading: Stocks drop amid renewed coronavirus fears

With roughly one hour left of trading, the major averages were on pace to post solid losses as traders worried the latest surge in coronavirus cases would halt the reopening of the economy. The Dow was down more than 600 points, or 2.6%. The S&P 500 traded 2.1% lower along with the Nasdaq Composite. —Imbert

2:41 pm: Selloff deepens as weekend nears

Stocks extended their losses on Friday afternoon, with the Dow briefly falling more than 700 points for the session. The 30-stock average last traded down 670 points, or 2.6%, while the S&P 500 and Nasdaq were both down about 2%. —Pound

2:35 pm: Mike Santoli’s market notes

CNBC’s Senior Markets Commentator Mike Santoli questioned whether markets are returning to ‘fretful Fridays,’ like they did in February and March. Investors would commonly sell on Friday’s assuming more risk of ugly virus headlines over the weekend, said Santoli.

Check out more of Santoli’s market notes here. –Fitzgerald

1:37 pm: NYSE decliners lead advancers 5-1

About five stocks declined for every advancer at the New York Stock Exchange as the market faced pressure from surging coronavirus cases. FactSet data shows 2,381 NYSE-listed names were lower, while just 487 traded higher. —Imbert

12:44 pm: Unilever halts Facebook and Twitter ads for rest of 2020

Consumer goods giant Unilever said Friday they would suspend all advertising on Twitter and Facebook, citing hate speech and polarizing U.S. politics. The news sent Facebook and Twitter shares down by more than 7%. Unilever is not the only company halting its Facebook ads. On Thursday, Verizon said it would do the same. —Imbert

12:36 pm: Florida suspends alcohol consumption at bars

In the midst of a massive spike in…



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