Dow closes more than 200 points lower, falls for a second straight week as recession fears grow

Stocks come off session lows in final hour of trading

Christopher Harvey, head of equity strategy at Wells Fargo Securities, said the labor market has grown in significance following Federal Reserve Chair Jerome Powell's most recent press conference. The Fed chair cited the persistence of wage inflation, even as inflation in goods and shelter appear to be slowing down.

A large amount of options that are expiring on Friday is causing big swings for markets, with the Dow down more than 400 points in afternoon trading. There are $2.6 trillion worth of index options set to expire, according to Goldman Sachs."With the S&P 500 close to the key technical level of 3,900 – and now oversold by most measures – today's market could surprise to the upside especially given the surge expected in volume," Krosby wrote in a Friday note.

"There is an unfilled gap on SPX at 3,818 from the November 10th CPI gap," Krinsky wrote in a Friday note. "Should we get down there, that would likely represent a decent bounce point. Our best guess is SPX finds some support in the 3,818-3,830 range, and we see some consolidation into early next week."Still, Krinsky identified some sectors such as industrials and semiconductors as "far from oversold," and expects they'll continue to see downside from here.

fungmico

Hey cnbc you miss the important stuff everyday. The 3% swing in the ndx everyday. hey canyousay marketmanipulation

ClosingBell Honestly WTF! Another woman comes on the show (this one from the WSJ) who knows what the market is going to do! 🙄Again with no mention of time frame. Where were they 10 months ago?

ClosingBell I turn on Closing Bell which I haven’t watched in months and there is this woman I don’t know sitting next to Wapner who seems to think she knows what the market is going to do! Everyone is so sure they are right! Be specific on time frames or it’s all MEANINGLESS dribble!

Anybody on CNBC says BUY $TJX needs to get off their rear end & go there. EMPTY LINES and TON’s of INVENTORY. (Staff talking each other) They keep on sending us stuff and their nowhere to put it and so few customers buying. This was yesterday me buying toys for charity gifts.

Also 4 million followers and so few interactions with your tweets is puzzling 🧐

Why is everyone clapping?

MiladAbdi a student of Social Work at Allameh Univ. was abducted 39 days ago. University 'security' cooperated with the IR thugs to abduct him, in detention, under pressure & violence for forced confessions, promised release several times without any results. MahsaAmini

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Dow futures slip lower as investors fear economy is weakeningInvestors continued looking at new data for signs into the future health of the economy. That’s what happens under an illegitimate President who’s doing EVERYTHING his puppet masters tell him to do in order to destroy America. The Fed is choking the economy out. The Fed told us they were gonna do this over a year ago. They reminded us over and over. Why some people decided the Fed was bullshittin’ I have no idea. But it would seem that they weren’t. That’s what I got this laser for 🤩
Source: CNBC - 🏆 12. / 72 Read more »