Wall Street's dismal August drags on with 3rd consecutive losing week

Friday, August 18, 2023, Vol. 47, No. 34

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.