U.S. Equities Decline Sharply Last Friday

U.S. stocks declined on Friday, with the S&P 500 recording its worst weekly loss since June 2012, as momentum from the prior day’s rout remained in play.

Procter & Gamble gained after the consumer-goods company posted profit that exceeded estimates; Tesla Motors climbed after the electric-car maker projected increased output in 2015; shares of LinkedIn rallied after the professional network projected revenue that topped expectations and GoPro slid after the maker of wearable cameras reported a larger quarterly decline from the year-ago period.

“I find it very hard to get scared by a sell off caused by an economy that is improving and rates coming up from very low levels. It’s not a recipe for stock-market disasters,” said David Kelly, chief market strategist at J.P. Morgan Funds, referring to the notion that the equities market was headed for a large drop on fears of the Federal Open Market Committee hiking interest rates sooner than anticipated.

CNBC

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