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VOL. 47 | NO. 34 | Friday, August 18, 2023
Wall Street's dismal August drags on with 3rd consecutive losing week
NEW YORK (AP) — Wall Street limped to a mixed close, marking its third losing week in a row.
The S&P 500 barely budged, ending the day down by less than 0.1%. It lost more than 2% for the week, like other U.S. indexes. The Dow edged up 25 points, and the Nasdaq composite slipped 0.2%.
August has been rough for the stock market, which has given back close to a third of the S&P 500's torrid gains for the year's first seven months. That's in part because a swift rise in yields has forced investors to reconsider whether stocks got too expensive.