Wall Street fell across the board Friday, solidifying weekly losses for all three major benchmarks. The Nasdaq and S&P 500 each logged their worst weekly performance since September, while the Dow turned in a 305-point loss and its third weekly drop in four.The post-election momentum seems to be losing steam, as investors turn their attention towards and President-elect Donald Trump’s planned cabinet picks, namely Robert F. Kennedy Jr. as the head of the U.S. Department of Health and Human Services. Small-cap stocks are also suffering, with the Russell 2000 Index (RUT) dropping 4% this week after a massive postelection rally. 
GOLD PACES TOWARD WORST WEEKLY DECLINE IN 3 YEARS
Oil prices fell 4.8% this week, weighed down by a stronger U.S. dollar and worries of demand from China. For the session, December-dated West Texas Intermediate (WTI) crude lost $1.68, or 2.5%, to settle at $67.02 a barrel — its lowest settlement in two months.With expectations of a less aggressive interest rate cut lifting the greenback, gold prices were on track for a more than 4% pullback on the week — spot gold’s worst such decline in more than three years. At last check, gold futures are 0.2% lower to trade at $2,567.20.More By This Author:
Wall Street Wraps Up Volatile Week With Big Losses
