U.S. stocks pulled back on Friday as the stock market closed out a tough week that saw the Dow Jones Industrial average plunge 1,100 points in a single day and complete its worst losing streak since the 1970s.
The Dow Jones Industrial Average lost 74 points, or about 0.2%. The S&P 500 shed around 0.4%, while the Nasdaq Composite dropped 0.9%.
Weighing on sentiment Friday was the failure Thursday night of a Trump-endorsed House Republican measure to fund the government for three months and avert a government shutdown. Without a deal, a partial shutdown is slated to start Friday night.
U.S.-listed shares of Novo Nordisk dropped 20% in morning trading after a late-stage trial of the company’s CagriSema obesity drughelped patients lose an average of 22.7% of their body weight, less than the company’s expectations of 25%. Shares of rival weight-loss drug maker Eli Lilly were up 7%.
