Stocks had risen in the previous two sessions on growing confidence that a deal could be reached in the coming days to raise the debt ceiling by $31.4 trillion, the Standard & Poor’s 500 index increasing by more than 2%. But the gains made early in Friday’s session were erased by news of the temporary halt to talks as Federal Reserve Chairman Jerome Powell spoke to the monetary policy committee.
In Friday’s session, the Standard & Poor’s 500 index closed down 0.14% at 4,191.98 points, and the Nasdaq composite index fell 0.24% at 12,657.90 points. The Dow Jones Industrial Average lost 0.33%, posting 33,426.63 points.
The S&P 500 and Nasdaq posted their biggest weekly percentage gains since the last week of March.
The Standard & Poor’s 500 rose 1.65% last week, the Nasdaq 3.04% and the Dow Jones 0.38%.
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