The Dow New York Stock Exchange ended down more than 400 points on Friday (Jan 21) on pressure from netflix, which slumped after weak earnings, while the S&P500 and Nasdaq fell. It’s the biggest weekly drop as a percentage since COVID-19. It started spreading in March. 2020
The Dow Jones Industrial Average closed at 34,265.37, down 450.02, or -1.30%.
The S&P 500 index closed at 4,397.94, down 84.79, or -1.89%.
The Nasdaq index closed at 13,768.92, down 385.10, or -2.72%.
In this week The Dow was down 4.6%, the S&P500 was down 5.7% and the Nasdaq was down 7.6%.
The Dow Jones Industrial Average fell for the sixth day in a row, the longest straight decline since Feb. 2020
The S&P 500 index fell for a third straight week and is already down 8.3 percent from a record high in early January. And the S&P500 also closed below its 200-day moving average, its first technically significant level since June. 2020
The Nasdaq Index has fallen sharply. It entered a correction after falling more than 10% from the highest level in November. The Nasdaq fell 14.3 percent from its November high. and closed on Friday at the lowest level since June. 2021
One analyst stated that Market pressured by sell-off in tech stocks and weak earnings releases from Netflix.
byNetflix shares were down 21.8 percent, weighing on the S&P500 and Nasdaq. after expected Member expansion is weak. Walt Disney shares fell 6.9 percent, putting pressure on the Dow.
In addition, the rise in bond yields and concerns that the US Federal Reserve (Fed) will speed up interest rates to curb that inflation. has affected technology stocks and growth groups
