Stocks on track for worst May since 2010

Stocks remained on track to cement a dismal May performance on the last day of the month Friday after President Donald Trump threatened to hit all Mexican imports with escalating tariffs, heightening worries about U.S. and global economic growth prospects. The S&P 500 SPX, -1.00% was off 1% at 2,760.56 in Friday action, while the Dow Jones Industrial Average DJIA, -1.06% dropped 253 points, or 1%, to 24,917 and the Nasdaq Composite COMP, -1.01% fell 1.1% to 7,482.96. That leaves the S&P 500 and Dow both on track for monthly losses of 6.3%, while the Nasdaq has shed 7.6% this month. That would mark the first negative month of 2019, but a smaller decline than was seen in December, when the S&P fell 9.2%. It would mark the first negative May performance for all three benchmarks since 2012 and the biggest decline since May 2010, when the S&P 500 fell 8.2%, the Dow dropped 7.9% and the Nasdaq fell 8.3%, according to Dow Jones Market Data.

Read More Here...

Bookmark the permalink.