U.S. stocks fell in early afternoon trading Friday, at the end of a volatile week for the market.
Stocks fell heavily in the first two days of trading this week on concerns about the health of China’s economy. The market then rebounded sharply over the next two days as investors decided the sell-off was overdone.
“People are taking a little bit of a pause,” said Paul Springmeyer, senior portfolio manager at the Private Client Reserve at U.S. Bank. “We’re finally winding down here where maybe we’re seeing more rational behavior.”
The Standard & Poor’s 500 index slipped six points, or 0.3 percent, to 1,981. The Nasdaq composite fell five points, or 0.1 percent, to 4,807.
Despite recovering their losses from earlier in the week, stocks are still on course for their worst monthly performance in more than three years. The S&P 500 is down 5.6 percent in August, and the Dow is down 5.8 percent.
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