Friday the 13th was an unlucky day for Wall Street today as the Dow gave back most year to date gains. The Dow Jones industrial average briefly fell more than 200 points at one point in afternoon trading, with Goldman Sachs, Boeing, 3M and Wal-Mart contributing the most to declines. The Dow and S&P 500 have now posted their first 3 week losing streak since January.
Lance Roberts, chief investment strategist at Clarity Financial, said about today’s losses on Wall Street:
“I’m not sure investors and traders even know what they are looking at right now. I think they are more concerned about not being out of the market because of the Fed. Everybody is pretty confident at this point the Fed may not raise interest rates in June.”
Art Cashin, Director of Floor Operations for UBS Financial Services appeared on CNBC with his analysis of today’s volatile market. Watch below.
Here are the final numbers from Friday, May 13th on Wall Street:
Dow Jones Industrial Average: 17,535.327 (-185.18 / -1.05 %)
NASDAQ: 4,717.68 (-19.66 / -0.41 %)
S&P 500: 2,046.61 (-17.50/ -0.85%)