Washington | For a president who views the S&P 500 as akin to a personal approval rating, Friday was a blunt rebuke of Donald Trump and showed investors have lost faith in his ability to wrap up the war in Iran neatly.
On Friday (Saturday AEDT), the tech-heavy NASDAQ was trading a whopping 2.1 per cent lower, pushing it down into correction territory, which is a fall of more than 10 per cent from its October high. The benchmark S&P 500 was not too far behind as investors mulled the effect of sharply higher fuel costs against fresh signs of consumer fatigue. Both indexes have lost about 3 per cent in two days, delivering Wall St a fifth straight losing week. That’s its longest such streak in nearly four years.
