After The Bell: Wall Street's Wild Ride

Andy Giersher
March 06, 2020 - 6:57 pm
Dow Jones NYSE Coronavirus

(Photo by David Dee Delgado/Getty Images)

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(WBBM NEWSRADIO) -- Stocks closed lower Friday, coming back from much steeper losses earlier in the session, as coronavirus kept Wall Street on edge.

The S&P 500 lost 51, the NASDAQ gave back nearly 163 and the Dow Jones Industrial Average closed down 256 points, settling to 25,864.

"The market kind of feeds on its own energy. Obviously, we are at a very high energy point in time and news events then in that kind of environment have an inordinate impact on trading," Jim Welsh, Marco Strategist and Portfolio Manager at Smart Portfolios, said Friday night.  "I think we are going to continue to see this for a period of time, because we are not out of the woods, in terms of understanding the scope and magnitude of the problem."

He also notes that algorithmic trading is playing a key factor in the added market volatility.