Wall Street Indices make Significant Gains on Friday but Reports Biggest Weekly Loss since March 20, 2020
June 13 , 2020
The Dow Jones Industrial Average has gained 477.37 points (an increase of 1.9%) to close on Friday at 25,605.54 points. Earlier in the day amid high volatility of the stock market, the blue-chip index traded over 800 points higher. Significant gains have been reported in other indices such as the S&P 500 and Nasdaq Composite. While S&P 500 increased by 1.31% to close at 3,041.31 points, Nasdaq Composite increased by 1% to close at 9,588.81 points on Friday. Despite significant gains on Friday (last trading day of the week), Wall Street reported the biggest weekly loss since March. Dow Jones Industrial Average dipped 5.5%, S&P 500 fell 4.7%, and Nasdaq Composite lost 2.3%. All the three indices witnessed the worst week since March 20, 2020. CNBC’s Jim Cramer has said on Friday that the Wall Street professionals are taking advantage of amateur investors in the market by bidding up popular but beat-up stocks such as airlines in premarket trading, causing high volatility in the US stock market.