The stock market experienced significant turbulence on Friday, with the Dow Jones Industrial Average dropping 378 points, or 0.9%. This decline was fueled by ongoing concerns related to a tech outage that continued to unsettle investors. The broader market also saw losses, with the S&P 500 and the Nasdaq Composite falling by 0.7% and 0.8%, respectively.
This week has been marked by instability in US stocks, characterized by erratic fluctuations. Despite reaching new highs at various points, stocks have consistently swung back down, creating a sense of uncertainty among investors.
On Tuesday, the S&P 500 achieved a new record high. However, by Thursday, the index experienced its most significant two-day decline since April, a period marked by tensions following an attack on Israel by Iran. The Nasdaq Composite also faced challenges, recording its worst performance since 2022 on Wednesday.
Investors have grappled with a series of unsettling events in recent days. These include an assassination attempt on former President Donald Trump, speculation about President Joe Biden potentially dropping out of the election, bipartisan criticism targeting Big Tech and chipmakers, and a global computer outage impacting critical sectors such as airports, banks, and hospitals.
