Wall St. falls from record highs, but tallies strong weekly gains

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Wall St. falls from record highs, but tallies strong weekly gains

On Friday, the 7th of February 2020, all three key indices of Wall St. posted steep losses, halting a four-day long rally as investors appeared to be stomaching latest US economic data and bracing for further economic impacts of coronavirus outbreak.

Nonetheless, all of the stock indices of Wall St. had scored robust gains this week. Besides, on Friday’s (February 7th) Wall St., sharp fallouts of all three key indices seemed to have experienced a psychological pullback, while a number of investors went for a usual weekend sell-off in a bid to bag weekly profits despite a robust US non-farm payroll data for January that showed US economy added 225,000 jobs last month, wiping out slowdown jitters.

Meanwhile, referring to Friday’s (February 7th) en masse sell-off in the Wall St., a chief market strategist at Miller Tabak, Matt Maley said on Friday’s (February 7th) market wrap-up, “It’s just a technical pullback based on the big run-up we had this week.

Ever since the coronavirus became a big deal, people have pulled back a little bit on Friday because they didn’t know what was going to happen over the weekend. ” Citing statistics, on Friday’s (February 7th) Wall St. wrap-up, Dow shed 0.94 per cent, S&P fell by 0.54 per cent, while Nasdaq was nudged 0.54 per cent lower to 9,520.51.