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Weekly Financial Market Update - May 17, 2019

Christopher LaPorta

May 20, 2019

Last week began on a sour note for global equity markets following a breakdown in trade negotiations between the U.S. and China and subsequent tariff escalations. The three major U.S. equity averages posted sharp losses at the beginning of the week, but steadily climbed higher before taking a downturn on Friday. For the week, the S&P 500 Index and Dow Jones Industrial Average fell by 0.8% and 0.7%, respectively. Meanwhile yields on the benchmark U.S. 10-year Treasury bond fell 0.08% to close at 2.39%, and U.S. crude oil prices advanced 1.7% to close above $62 per barrel. 

Learn more about last week's developments including the latest on U.S. consumer sentiment in our Weekly Financial Update