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U.S. stocks fell to their worst loss since Election Day as the rally that Wall Street got from last week’s victory for Donald Trump and a cut to interest rates by the Federal Reserve kept fading.
The S&P 500 sank 1.3% Friday to close a losing week. The Dow Jones Industrial Average dropped 0.7%, and the Nasdaq composite fell 2.2%.
Moderna and other makers of vaccines helped drag the market down after President-elect Donald Trump named Robert F. Kennedy Jr., an anti-vaccine activist, to be his health secretary. Treasury yields swung following stronger-than-expected reports on the economy.
On Friday:
The S&P 500 fell 78.55 points, or 1.3%, to 5,870.62.
The Dow Jones Industrial Average fell 305.87 points, or 0.7%, to 43,444.99.
The Nasdaq composite fell 427.53 points, or 2.2%, to 18,680.12.
The Russell 2000 index of smaller companies fell 33.10 points, or 1.4%, to 2,303.84.
For the week:
The S&P 500 is down 124.92 points, or 2.1%.
The Dow is down 544 points, or 1.2%.
The Nasdaq is down 606.66 points, or 3.1%.
The Russell 2000 is down 95.80 points, or 4%.
For the year:
The S&P 500 is up 1,100.79 points, or 23.1.
The Dow is up 5,755.45 points, or 15.3%.
The Nasdaq is up 3,668.77 points, or 24.4%.
The Russell 2000 is up 276.76 points, or 13.7%.