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Why the Nasdaq Is Holding Up Better Than the Dow and S&P 500 On Friday
All three major indexes fell on Friday, but one held up better than expected. The reason has more to do with oil tankers than tech stocks.
After a wobbly week, Wall Street turned away from risky investments again on Friday.
The sell-off that started earlier in the week hit the accelerator right out of the opening gate. It also bounced back mid-morning, just like it did on Tuesday. By lunchtime ET, the three leading indexes were down by approximately 1%:
This time, the Nasdaq Composite (^IXIC 0.23%) index showed a smaller loss than the Dow Jones Industrial Average (^DJI 0.86%) and the S&P 500 (^GSPC 0.73%). That's unusual, since the tech-heavy Nasdaq index tends to be more volatile than the broad-based S&P 500 or the handpicked group of 30 elite stocks in the Dow.
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