Technology Weakens Second Week07/27/2020


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July 20 - 24, 2020 Recap

S&P Snaps Three-Week Rally
U.S. equities ended lower last week with the S&P 500 posting its first weekly loss in four weeks as investors turned cautious amid increased tensions with China. Wall Street was also concerned over an uptick in weekly jobless claims as rising numbers of new COVID-19 cases led to more state-ordered business closures.

Weekly Performance
For the week, the Dow Industrials fell 0.76%, the S&P 500 slipped 0.27%, and the Nasdaq Composite dropped 1.33%, its second straight weekly decline.

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