A poor start to the week was seen on Monday with the Dow Jones Industrial falling almost 2.5% and the Nasdaq down by almost 3.5%. Investors seemed wary about future earnings news and how it would affect the slight turnaround in the economy, seen last week.
Another day of losses (making it three on the trot) was seen on Tuesday by both the Dow Jones Industrial and the Nasdaq. Again this was put down to investors worrying about companies accounting practices and financial announcements. The Nasdaq suffered worse than the Dow Jones, losing just over 1%.
Wednesday's trading did not manage to stem the daily order of losses in the US. Both the Dow Jones and the Nasdaq ended the day lower, mostly due to investors dumping technology stocks. Had it not been for these stocks, the Dow Jones might have gained.
Thursday was no different and a five day trend of losses was set with the culprit again being technology stocks. Again the Dow Jones suffered less, losing less than 0.5%. However, the Nasdaq seemed to really go for it, losing over 2%. Surprisingly, it was turnaround day on Friday for US markets following a bad trading week and five straight days of losses. Despite there being early losses, better trading saw investors push the Dow Jones over 1% higher and the Nasdaq up almost 3%. About time too!