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Wall Street Declines as 'Magnificent 7' Tech Stocks Hold Market Back

share-iconPublished: Sunday, December 29 share-iconUpdated: Sunday, December 29 comment-icon2 months ago 26 views
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APNEWS
Wall Street Declines as 'Magnificent 7' Tech Stocks Hold Market Back

Credited from: APNEWS

  • Wall Street faced a broad decline on Friday, concluding the holiday-shortened week with significant losses.
  • Major tech stocks, referred to as the 'Magnificent 7', significantly impacted market direction, with most falling sharply.
  • The S&P 500 dropped by 1.1%, while the Dow Jones and Nasdaq also experienced losses of 0.8% and 1.5%, respectively.
  • Despite the losses on Friday, the market is on track for a strong annual finish, with expectations of a 25% gain for the S&P 500 in 2024.
  • Upcoming economic reports, including housing and construction data, are anticipated to influence market trends next week.

For more details, visit AP News.

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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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