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Sept. 18, 2020, 2:54 p.m. EDT

Stock-market benchmarks wipe out weekly gains amid Friday selloff but Tesla is a port in the storm

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By Mark DeCambre

U.S. stocks on Friday were seeing heavy selling pressure, led by declines in large-capitalization technology-related companies. The selling action managed to erase weekly gains for the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.59% , the S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.21% and the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -2.45% . On the day, the Dow was off 1.2% at 27,570, the S&P 500 index was trading 1.5% lower at 3,307, well below its 50-day moving average at around 3,343.34, according to FactSet data. The Nasdaq was nearly 1.8% lower on the session at 10,711. For the week, the Dow was down 0.4% for the week, the S&P 500 was seeing a 1.1% weekly decline, while the Nasdaq was on track for a 1.4% weekly loss. A weekly decline would represent the longest such streak since three weekly declines ended Oct. 4 of 2019 for the Dow and the S&P 500. For the Nasdaq, would mark the longest weekly losing streak since the four-week stretch ended Aug. 23, 2019. However, some stocks were maintaining altitude in the market, including popular Tesla Inc. /zigman2/quotes/203558040/composite TSLA -5.55% , which was up 3% despite the broad-market downturn.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,501.60
-157.51 -0.59%
Volume: 506.32M
Oct. 30, 2020 5:18p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,269.96
-40.15 -1.21%
Volume: 3.01B
Oct. 30, 2020 5:18p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
10,911.59
-274.00 -2.45%
Volume: 3.18M
Oct. 30, 2020 5:16p
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 388.04
-22.79 -5.55%
Volume: 42.59M
Oct. 30, 2020 4:00p
P/E Ratio
775.46
Dividend Yield
N/A
Market Cap
$367.82 billion
Rev. per Employee
$511,871
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