Markets finished broadly lower last week, breaking a streak of six straight weekly advances. For the week, the Dow Jones Industrial Average finished at 17,245 to close down 3.71%. The broader-based S&P 500 closed at 2,023 for a loss of 3.63% for the week. The Nasdaq Composite closed the week at 4,928 as it shed 4.26%. International markets were broadly lower as well. The 10-year Treasury closed the week at a yield of 2.28% (down from a close of 2.33% the prior week) as bonds gained on equity market uncertainty.
We are skipping our usual review of economic and market conditions out of respect for the people of France who have suffered a massive loss. Our hearts and prayers go out to the people of France, and we stand in solidarity with them and the civilized world.
Truly, we say – Nous Sommes Paris.