Nasdaq Caps Third Straight Weekly Loss
U.S. equities backpedaled last week as angst over AI equity valuations returned despite blockbuster earnings results from the leading AI bellwether chipmaker. Deeper losses were avoided amid a Friday rebound sparked by comments from New York Fed President Williams, saying he supports rate cuts and there’s room for a further “near term” adjustment. The Cboe VIX Volatility Index, Wall Street’s fear gauge, eased on Friday yet remained elevated ending the week at 23.4. The S&P 500 rebounded almost 1% on Friday, ending the week nearly 4.2% below its October 28 record high.
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