Stocks fell across the board Friday in an abbreviated post-Thanksgiving trading session, with the Dow Jones Industrial Average falling for the fourth consecutive session.
The Nasdaq is pushing further into correction territory as markets add to their year-to-date losses. The major indices started trading in the red for the year this week after spending most of 2018 in positive territory.
The Dow fell .73%, or 179 points to 24,286, while the S&P 500 declined .66%, and the Nasdaq falling .48%
Some of the stocks that jumped during Wednesday's session are losing ground on Friday.
Shares of Foot Locker Inc. (FL) jumped nearly 15% during Wednesday's session following the release of the shoe retailer's latest earnings results, bbut the stock closed Friday's session flat.
Shares of beleaguered social media company Snap Inc. (SNAP) fell 2.2% on Friday after rising more than 4% Wednesday on reports that the company was making it easier for businesses to create augmented reality lenses designed for the site.
General Electric Co. (GE) was also declining Friday after getting a small reprieve Wednesday on reports that the company has set up $41 billion in credit lines from dozens of banks. GE shares fell 3.2%.
The slide downward came after a post-Thanksgiving slump in pre-market trading that followed an underwhelming opening.
Though technology is expected to sell big on Black Friday, tech giants short circuited: Apple Inc. (AAPL) was down 2.54% to $172.29; Facebook (FB) was down 2.29% to $131.73 and Intel (INTC) and Microsoft (MSFT) also slumped.
Retailers were a mixed bag, with Target (TGT) down 2.83% to $67.35 and Amazon (AMZN) falling by nearly 1% to $1,502.06, but Walmart (WMT) up nearly 1% to $95.10 and eBay (EBAY) up more than .35% to $28.44.
The energy sector is facing downward pressure Friday with global benchmark Brent crude futures contracts declining 4.55% to $59.75 per barrel while U.S. benchmark West Texas crude declining 6.28% to $51.20 per barrel.
Save 66% with Our Black Friday Sale!
Join Jim Cramer's Action Alerts PLUS club for investors on Black Friday Weekend (Nov. 23-25) and enjoy our best deal of the year!
Action Alerts PLUS members enjoy:
- A complete list of all stocks in Jim's investment portfolio, which he runs for charity.
- E-mail alerts before Jim makes any trade for the portfolio, so that you can not only trade along with Jim, but actually place your order before he does.
- Access to a private monthly videoconference call for club members only, in which Jim answers e-mailed questions and updates you on his latest thinking.
- Exclusive commentary throughout every trading day from Jim and his personal team of analysts, who let you see the research that Jim uses in making his own trading decisions.
Click here for a special 66% holiday discount.