Stocks Dropped Sharply since Brexit

U.S. stocks dropped sharply on Friday in its worst trading session since Brexit as hawkish comments from Boston Fed President Eric Rosengren suggested that the Federal Reserve could resume raising interest rates soon. The Dow Jones Industrial Average shed nearly 394.46 points, or 2.13%, to 18,085.45, falling 2.2% for the week. The S&P 500 sank 53.49 points, or 2.45%, to 2,127.81 for a weekly loss of 2.4%. The Nasdaq Composite skidded 133.57 points, or 2.54%, to 5,125.91, bringing its weekly loss to 2.4%.

Emerging-market equities logged their steepest drop since June 24, the day after Great Britain voted to leave the European Union in a referendum dubbed Brexit.

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