By Jesse Cohen
Investing.com - Stocks on Wall Street ended lower in another volatile session on Friday, after U.S. President Donald Trump's positive test for COVID-19 spooked investors and added to mounting uncertainties surrounding the looming election.
The Dow Jones Industrial Average closed 134 points, or about 0.5%, lower at 27,682, after falling by as much as 430 points earlier in the session.
The S&P 500 declined around 1% to 3,248 after dropping 1.7% at its session low. The Nasdaq Composite sank 2.2% to end at 11,075.
Despite Friday’s losses, both the Dow and S&P 500 notched their first weekly gains in five weeks, respectively. The Dow climbed 1.9% on the week while the S&P 500 advanced 1.5% over the same timeframe.
The Nasdaq Composite meanwhile enjoyed its second straight weekly gain, rising 1.5%.
U.S. stocks could face more volatility next week as investors focus on how President Trump’s illness might impact the November 3 election.
Democratic presidential candidate Joe Biden maintained his lead in the polls following the first debate earlier this week, however the schedule for further debates is now in question.
Uncertainty related to the election, including the possibility of a delay in announcing a winner, has weighed on market sentiment in recent weeks, with the S&P 500 currently down by almost 7% from its record high last month.
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