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Stocks Close Down With Economic Uncertainties Despite Post-Pandemic Gains

  • Stocks experienced losses on Friday, with the S&P 500 falling 0.27% and Dow Jones Industrial Average falling 0.47%, capping off the worst quarterly performance since the third quarter of 2022.
  • The US economy showed signs of slowing with the latest PCE inflation data, while bond yields climbed back near 16-year highs.
  • Big tech stocks like Apple and Amazon saw mixed trading, with Apple closing $27 below its 52-week high and Amazon unchanged.
  • The energy sector was the best performer in Q3 with oil stocks like ExxonMobil and Occidental Petroleum contributing to gains before falling on Friday.
  • Despite post-pandemic gains, economic uncertainties surrounding inflation and interest rate hikes drove stocks down in September and the third quarter overall.
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