U.S. stocks end lower after choppy trading

A screen displays the Dow Jones Industrial Average following the closing bell

A screen displays the Dow Jones Industrial Average following the closing bell

After swinging up and down several times, the Dow Jones industrial average ended the day up 330 points, or 1.4 percent, at 24,191.

Still, both the Dow and S&P 500 lost more than 5 percent for the week.

FedExFDX.N and UPS UPS.N dropped more than 1 percent after the Wall Street Journal reported Amazon.com IncAMZN.O will be launching its own delivery service. The S&P was also down after the volatile market creates a lot of uncertainties for the indices. It rose as much as 349 in early trading.

Societe Generale said in a report Wednesday that it sees a clear chain of causality in the recent stock market sell-off: global risk sentiment is driven by USA equities, US equities are driven by USA bond yields and U.S.to a significant degree by core eurozone yields. The benchmark rate was trading around 2.85% Thursday afternoon. That makes it easy to forget that the stock market's rise and fall is, well, pretty commonplace. The last market correction ended nearly two years ago.

On Monday, S&P 500 biggest losing stock was Wells Fargo.

A day after dropping more than 1,000 points, the Dow rebounded Friday to close up more than 300 points. Trump's Administration downplayed the gravity of the selloff, with Deputy Press Secretary Shah telling journalists that markets do fluctuate and that this economy has got solid fundamentals.

While low interest rates have been the basis of the nine-year-long bull market in stocks, falling bond prices and rising yields augur higher interest rates.

The Standard & Poor's 500 index slipped 2 points, or 0.1 percent, to 2,679.

The market's main gauge of volatility, the Chicago Board Options Exchange (CBOE) Volatility Index, fell to 29.82 on Thursday, more than twice what it was a week ago but down off a two-and-a-half year high above 50 points hit on Tuesday.

Traders are still braced for more volatility as they try to figure out if the swings over the past few days are the start of a deeper correction or just a temporary blip in the United States market's nine-year bull run.

Around 8:33 a.m. ET, stock futures were pointing to the Dow opening higher by 103 points. Microsoft and JPMorgan Chase each lost 1.7 percent.

This is approximately how much the stock market has lost since Washington passed personal and corporate income tax cuts on December 20. The Nasdaq composite was down 6 points, or 0.1 percent, to 6,956. The Nasdaq rose 69 points, or 1 percent, to 6,847.

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