Friday ended a week-long seesaw for stocks on a down note.
Persistent worries of slowing global economic growth and concerns that companies have seen peak earnings growth helped send the Dow Jones Industrial Average DJIA, -1.19% down 296 points (or 1.2%) on Friday, pushing the venerable index down 3% for the week. The the S&P 500 Index SPX, -1.73% pulled back 1.7% on Friday for a 3.9% decline from a week earlier, while the Nasdaq Composite COMP, -2.06% fell 2.1% on Friday for a one-week decline of 3.8%.
Those results for the week may not seem alarming. However, several well-known tech names were down by double digits for the week.
Mixed results from Amazon.com AMZN, -7.82% disappointed investors and sent the shares down 7.8% on Friday. Google holding company Alphabet GOOG, -2.20% GOOGL, -1.80% beat analysts’ earnings estimates but reported sales that didn’t grow as fast as expected, and the Class C shares were down 2.2% for the day.
