Stocks sink as big banks get pummeled
CNN
Investors clearly didn't want to go into the upcoming three-day weekend holding onto stocks. The Dow fell more than 350 points, led by a steep fall for shares of JPMorgan Chase and other big banks.
The Dow was down 1% Friday and is off nearly 1.3% during the past five days. The average of 30 blue chips has now fallen about 1.6% so far this month.
The S&P 500 and Nasdaq dipped 0.5% and 0.1% respectively, with both set to drop about 1% for the week. The S&P 500 is down nearly 3% in 2022 while the tech-heavy Nasdaq has slid more than 5%.
President Joe Biden asserted Friday that Hamas has been degraded to a point where it can no longer carry out the type of attack that launched the current 8-month conflict in Gaza, laying out a three-phase proposal Israel has submitted to wind down the grinding crisis as he declared, “It’s time for this war to end.