The newly volatile market was shaken in part by rising bond yields, which led stock investors to rethink their positions after months of steady gains.The S&P 500 ended the week nearly 9 percent below the all-time high set just two weeks ago.“I don’t see any reason to think that we’re setting a pattern for next week or the rest of the year,” said Rob Stein, chief executive officer of Astor Investment Management in Chicago. “The only pattern we’re setting is more volatility.”On Friday alone, the S&P 500 swung from gains of up to 2.2 percent to declines of 1.9 percent, echoing the big swings of the past week. Energy .SPNY was the lone major S&P sector to end negative as oil prices tumbled.The benchmark S&P 500 fell 5.2 percent for the week, its biggest weekly percentage drop since January 2016. “And that is a process that is playing out.”U.S. It was the first time weekly volume eclipsed 50 billion since August 2015.Advancing issues outnumbered declining ones on the NYSE by a 1.43-to-1 ratio; on Nasdaq, a 1.36-to-1 ratio favored advancers.The S&P 500 posted no new 52-week highs and 47 new lows; the Nasdaq Composite recorded 17 new highs and 208 new lows.

Source: Egypt Today February 09, 2018 23:37 UTC