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Fridayβs performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively. For tech stocks, βthe main thing is yields,β Essaye said. Artem Kliuchnikov and his family fled Ukraine just days before the Russian invasion. "Markets were cheering this economic recovery and return to strong economic growth, but the cheers will turn to tears if the inflation outbreak pushes businesses and consumers to the brink of recession," he added. Investors took profits on Friday while they could ahead of the weekend, explained Tom Essaye, founder of Sevens Report Research. Saturday and Sunday could easily bring unfortunate news on the war frontβand traders would rather be able to sell any recent winnings at Fridayβs earlier prices than wait for a potentially lower price at Mondayβs open.
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