U.S. stocks sank Friday, with the S&P 500 and the Dow Jones Industrial Average closing down for the week, as Federal Reserve’s decision to leave interest rates unchanged fueled fears about global economic growth. The Dow dropped 290 to close at 16,385, the S&P skidded 32 to close at 1,958 and the Nasdaq shed 67 to 4,827.
The Federal Reserve is keeping U.S. interest rates at record lows in the face of threats from a weak global economy, persistently low inflation and unstable financial markets.
Technology companies’ share of U.S. initial public offerings has fallen to a seven-year low, boding poorly for investors who have pumped billions of dollars into startups in hopes of a big payday.
Listen in for much more in A Wall Street Wrap-up.
