A seven-week streak of stock market gains abruptly ended this week amid investor concerns about the continued decline of oil prices and sluggish European and Asian economies.
A sell-off Friday cemented the loss with the Dow Jones Industrial Average tumbling 316 points, or 1.8%, to close at 17,281. For the week, the blue clip index slid 3.7%, the worst showing since November 2011.
The Dow Jones average has now fallen more than 700 points since it came tantalizingly close to hitting the 18,000-point milestone just last week. The index crossed the 17,000-point mark for the first time ever in July.
Meanwhile, the S&P 500 fell 1.6% on Friday and finished the week down by 3.5% while the Nasdaq composite fared slightly better by dropping 1.2% for the day and 2.7% for the week.
Yesterday, a strong November retail report kicked off a temporary rebound that helped offset at least some…
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