U.S. Stocks Close Out Choppy Week With Losses

This article was originally published on this site

Charlie Turner: Here’s your Closing Bell Brief for Friday, September 10th. I’m Charlie Turner for The Wall Street Journal. US stocks closed out a choppy trading week with losses. The Dow Jones Industrials fell 271 points to finish at 34,607. The NASDAQ Composite lost 132 points. The S&P 500 dropped 34. For the week, the Dow lost 2.1%, the NASDAQ fell 1.6%, and the S&P lost 1.7%. Markets have turned volatile this month after climbing for much of the summer. Money managers point to high valuations and the prospect that the Fed may soon start to unwind easy money policies it enacted near the start of the pandemic. Investors are also concerned that the spread of the Delta variant could lead to an economic slowdown this fall. Shares of Apple lost 3.3% today. A judge ruled that Apple must loosen its restrictions on how developers can seek payment within their apps. But in a mixed court verdict, Epic Games, the maker of the Fortnite video game, lost a bid to force Apple to let programs be downloaded onto the iPhone outside of the confines of the App Store. And metal prices rallied after a phone call between Presidents Biden and Xi Jinping raised hopes of a cooling intentions and potential reduction in tariffs between the US and China. Copper prices, which are sensitive to relations between the world’s two largest economies, rose around 3.8%. We’ll have more coverage of the day’s news on The Wall Street Journal’s What’s News Podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.