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US stocks close out worst week since May 2012

October 10, 2014
The U.S. Stock market was met with its worst week since May 2012. (AP Photo/Richard Drew)

The U.S. Stock market was met with its worst week since May 2012. (AP Photo/Richard Drew)

NEW YORK (AP) — U.S. stocks are closing out a turbulent week with another loss, giving the market its worst week since May 2012.

Technology shares were especially hard hit. Semiconductor makers slumped after Microchip Technology cut its sales forecast for the quarter and warned investors to expect bad news from others in the sector.

The Dow Jones industrial average lost 115 points, or 0.7 percent, to 16,544 today.

The Standard and Poor’s 500 fell 22 points, or 1.2 percent, to 1,906. The technology-heavy Nasdaq fell 102 points, or 2.3 percent, to 4,276.

The stock market has been swinging sharply this week. The Dow had its biggest decline of the year Thursday, a day after its biggest gain.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.29 percent.

One Comment

  1. Marietta

    November 12, 2014 at 3:43 AM

    Wow that’s terrible news. I actually thought the market is going well.

    Reply