BlackRock's Weekly Investment Commentary from Bob Doll, Vice Chairman and Chief Equity Strategist
Some weaker economic data and statements from the Federal Reserve indicating that it has downgraded its view of the economy caused stocks to sink sharply last week, ending a multi-week run of gains. The Dow Jones Industrial Average lost 3.3% to end the week at 10,303, the S&P 500 Index declined 3.8% to 1,079 and the Nasdaq Composite fell 5.0% to 2,173. With these losses, all three indices are back into negative territory on a year-to-date basis.
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