S&P 500 slips for first time this week as momentum stalls
Wall Street closed out the market's best week in eight months Friday with a broad slide as technology and health care stocks gave back some of their recent gains.
The pullback, which followed a sell-off in markets around the world, snapped a four-day winning streak for the major U.S. stock indexes. Even so, the benchmark S&P 500 notched its biggest weekly gain since June.
Stocks rallied strongly for most of the week, erasing all their earlier losses from worries about the severity of the economic fallout from a new virus from China that's rapidly spreading. Stronger-than-expected reports on corporate profits and the U.S. economy helped assuage the fears, as did increasing hope that central banks and governments around the world can support markets with rate cuts and stimulus.
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