By Amy Baldwin
Associated Press
NEW YORK – Wall Street suffered its fourth big drop in five days Friday, giving the Dow industrial index its biggest one-week point decline ever.
The stock market’s best-known indicator fell more than 136 points and ended the week down more than 1,365 amid growing uncertainty about how the United States will retailiate for last week’s terrorist attacks.
Friday’s trading was volatile, influenced not only by Wall Street’s uneasiness but also technical factors that can make the market volatile in the best of times.
The Dow had several big swings – falling 313 points in the opening minutes of trading, surging to a gain of more than 50 points an hour later and then falling back again.
The market was clearly uneasy as it waited for the United States’ anticipated retaliation for last week’s terrorist attacks.
“This is an extraordinarily emotion-filled stock market environment,” said Hugh Johnson, chief investment officer at First Albany. “Investors are scrambling to defend their nest eggs.”
Copyright ©2001 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.