TIMOTHY A. Clary is pictured.
The US stock market finished Friday lower, though the Nasdaq erased most of its losses in a choppy session that ended with a volatile week.
The S&P 500 fell over 500 points, while the Dow fell over 500 points. The top indexes gave up all of their gains from earlier in the week and finished in negative territory.
The Federal Reserve's decision to accelerate the pace of bond-buying and to signal three rate hikes in the next four years caused markets to surge immediately. Chairman Powell indicated flexibility during his press briefing despite the Fed's morehawkish stance.
The Fed joined the other central banks. The European Central Bank said it would wind down an emergency bond-buying program after the Bank of England increased interest rates. The net effect is less asset purchases.
The US indexes stood at 4:00 pm. The close is on Friday.
Rivian stock fell after it was revealed that production of electric trucks this year would be short of its target. The electric truck startup confirmed that it will build a new factory in Georgia, which will add to its existing production capacity in Normal, Illinois.
The latest "Spider-Man" movie set box office records for a December release, and AMC stock rose as much as 22%.
An executive with Digital World Acquisition Corp., who was in the running for a board seat and was an important part of the deal to bring Donald Trump's media firm public, is suing the blank-check firm for fraud, according to the New York Times.
Musk sold another $884.1 million worth of shares in the EV maker. His sales have increased to nearly 14 billion.
Ray Dalio, the hedge fund giant, confirmed he has ether in his portfolio but described it as a relatively small part of his portfolio.
Michael Saylor, the CEO of MicroStrategy, said that thecryptocurrencies doesn't need Warren Buffet's endorsement to be wildly successful.
West Texas Intermediate crude oil lost 1.1% on a weekly basis and settled at $71.86 per barrel on Friday. The international benchmark for crude oil, called Brent, fell 2.5% to $73.32 per barrel.
The price of gold rose to $1,799.50 per ounce. The 10-year US treasury rate fell.
Business Insider has an original article.
