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Wall St closed lower on Friday following a volatile week and ahead of the Federal Reserve’s policy meeting on Thursday. While the tech- heavy Nasdaq lost 1.56%, the Dow Jones was also in the red by 0.83%. Meanwhile, the S&P 500 suffered its 2nd week in a row of losses rounding out Friday with a loss of 1.22%
Within the S&P 500 the information technology sector performed the worst with Adobe shares falling more than 4%, despite recording better-than-expected quarterly results. Recently debuted company Arm Holdings also had its share price lowered by 4.2% following its successful public debut.
European stocks ended the week higher on Friday following the market’s reaction to the European Central Bank’s suggestion that its latest rate hike may be its last. The STOXX600 ended Friday up 0.2% with household goods leading gains, up by 1.4%. The German DAX ended the week 0.56% higher and the FTSE100 and the French CAC followed suit closing 0.50% and 0.96% higher respectively.
Locally on Friday, the ASX200 ended the week 1.29% higher, with the materials sector advancing the most, while the info tech sector also performed strongly, up almost 2%.
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