NEW YORK ( TheStreet) -- Stocks on Friday extended losses spurred by Thursday's panicked selloff, easily making it the worst trading week of the year.
The Dow Jones Industrial Average had the ninth-worst weekly performance in its history, losing 5.7%. It shed 140 points, or 1.3%, during the session to close at 10,380. The S&P 500 finished the session down by 17 points, or 1.5%, at 1111 and was 6.4% lower on the week. The Nasdaq finished the week 8% lower, having lost 54 points, or 2.3%, to 2266 on Friday.
(The continued downturn came a day after the Dow lost 348 points, or 3.2%, to close at 10,520, its largest single-day fall since February 2009. The S&P 500 fell 38 points, or 3.2%, to 1128 on Thursday, while the Nasdaq lost 83 points, or 3.4%, to 2320.)
Both the Securities and Exchange Commission and the Commodity Futures Trading Commission are sifting through trading data leading up to the chaotic selloff and said conflicting trading rules across different markets may be one possible cause.Friday's session was particularly rocky, with the Dow briefly venturing into positive territory but also losing as much as 279 points at one point to an intraday low of 10,241. "The market is ignoring the cyclical power of the recovery," said Federated Chief Equity Market Strategist Phil Orlando, adding that the fundamentals of Friday morning's
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