US stocks close at session lows. Nasdaq gets hammered.

US stocks are closing the session at the lows with the Nasdaq index leading the way.

The final numbers are showing:

• Dow industrial average -286.91 points or -0.86% at 33127.27
• S&P index -53.84 points or -1.26% at 4224.15
• NASDAQ index is down -202.38 points or -1.53% at 12983.80

For the trading week, the NASDAQ fell over 3%.

• Dow industrial average fell -1.61%
• S&P index fell -2.39%
• NASDAQ index -3.16%

Helping to pressure the stocks into the close, is the S&P’s technical break and close below its 200-day moving average at 4233.13. It was the 1st close below that moving average since March 22.

Concerns about interest rates, the Middle East, Washington stagnation all contributed to anxiety in the US stock market. Next week a slew of earnings will be released including 4 of the so-called Magnificent 7 – Microsoft, Alphabet, Meta and Amazon. In addition, there are a number of other large cap names scheduled to announce their earnings (see the schedule here).