U.S. stocks are broadly lower in afternoon trading Friday as worries about the worsening pandemic undercut growing optimism about a coming coronavirus vaccine.
The S&P 500 fell 0.5%, as of 3:30 p.m. Eastern time. The Dow Jones Industrial Average was down 202 points, or 0.7%, at 29,276, and the Nasdaq composite slipped 0.2%. Treasury yields were mostly lower, a sign of caution in the market. Stock indexes around the world made modest moves.
Technology, financial and industrial companies drove much of the selling, which accelerated in the final hour of regular trading. The S&P 500 is on track for a 0.7% decline this week, on the heels of a 7.3% weekly surge followed by a 2.2% climb.
Wall Street has suddenly begun to teeter-totter this week after a big November rally swept both the S&P 500 and Dow to record highs. Evidence is piling up for investors both for hope about the economy’s prospects next year and for fear about the damage accruing in the shorter term.
“It’s a market concerned about growth,” said Quincy Krosby, chief market strategist at Prudential Financial. “That’s the big uncertainty.”
Adding to the optimistic side of the ledger Friday