U.S. stocks fell sharply on Friday, with benchmark indexes falling for a third week in a row, as computer-chip manufacturers led the losses after Microchip Technology lowered its sales outlook.
“With the Fed going away, and the slowdown in Europe, the market is trying to figure out are these valuations fair, that’s what this whole week has been about,” said JJ Kinahan, chief strategist at TD Ameritrade..
Equities fell further after Standard & Poor’s downgraded its outlook for France to negative from stable. The CBOE Volatility Index, a measure of investor uncertainty, rose above 20 for the first time since early February, and spiked 13 percent to 21.24.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.