Wall Street witnessed abysmal period in year end, Dow Jones ended a brutal week with a steep selloff Friday as President Donald Trump threatened a "very long" government shutdown just hours ahead of the midnight deadline.
The Dow Jones Industrial Average fell 1.8%, and 6.4% for the week. The S&P 500 fell 2.14%. While the Nasdaq Composite dropped 2.99% and entered bear-market territory for the first time since 2008 as it has lost more than 20% since its August peak.
President Trump told reporters that there's a very good chance the House funding bill will fail to pass in the Senate and that the administration is prepared for a long shutdown.
Mixed economic data, meanwhile, drew a muted reaction somewhat as U.S. gross domestic product increased at a 3.4% annual rate in the July-September period, the Commerce Department said in its final estimate, below a previous estimate of 3.5%.
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