S&P 500 Record Taunts Investors Before Floor Caves In on Friday
- Third-lightest week of trading volume in year for S&P 500
- Benchmark trades within 12 points of May 2015 all-time high
Pedestrians walk past the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, March 24, 2016. Stocks dropped around the world as the dollar extended gains into a fifth day, with the potential for higher U.S. interest rates again roiling financial markets as the Easter vacation looms.
Photographer: Michael Nagle/BloombergAnother run at a record ended in frustration for stock investors as the biggest selloff since mid-May erased gains for the week and dragged the S&P 500 further from a 10-month high.
A week that started with the whiff of celebration as equities pulled within 1 percent of their all-time high ended with disappointment amid concerns about global growth and Britain’s referendum on the European Union. The S&P 500 dropped 0.9 percent to 2,096.07 on Friday, its worst decline since May 17, leaving it down 0.2 percent over the five days.