January 23rd 2022 |
Market Review |
U.S. stocks finished the shortened week with deep losses. The Dow Jones Industrial Average slumped 4.6% over the week to 34,265.37. The S&P 500 retreated 5.7% for the week to finish at 4,397.94. The Nasdaq posted a 7.6% loss for the week and finished at 13,768.92. Both the Dow and S&P 500 closed out their third straight week of losses and their worst weeks since 2020. All key S&P sectors ended in negative territory for the week, led by the discretionary sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, advanced to 28.9.