Today featured the worst one-day decline in U.S. stocks since June of last year, wrapping up a weekly plummet that was worse than any seen in 2013.
Most stocks rose today as earnings continued to pour in from a plethora of publicly traded companies.
With U.S. markets closed in observance of Martin Luther King, Jr. Day, the euro made a small rebound from a two-month low against the U.S. dollar.
Investors exited the markets as earnings reports from various companies fell below expectations, resulting in the market closing down for the week.
Lower-than-expected financial earnings discouraged investors, lowering stocks for the day. Meanwhile, Treasuries made a move upwards.
The S&P 500 rose to erase losses incurred at the start of 2014, thanks to a bank rally and an increase in the World Bank’s global growth forecast.