Wall St closes lower at end of holiday-shortened week

Wall Street’s holiday cheer ended abruptly on Friday as all three main benchmarks closed lower in a broad-based sell-off, impacting even tech and growth stocks that had been driving the market higher. The decline broke the Dow Jones Industrial Average’s five-session winning streak, following its worst losing stretch since 1974. The S&P 500 lost 65.34 points, the Nasdaq Composite lost 294.69 points, and the Dow Jones Industrial Average fell 321.73 points, with investors taking profits and rebalancing portfolios ahead of the new year, thwarting the seasonal Santa Claus rally.

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