Close Update: Major Indexes Close Mixed for Week as Stocks Stumble Friday

Friday, November 20, 2020 4:24 PM | MT Newswires

Stocks closed lower Friday as selling intensified late in the session pushing major indexes to end near their lows for the day.

The Dow Jones Industrial Average fell 0.8% to 29,263.48 while the S&P 500 slumped 0.7% to 3,557.54. The Nasdaq Composite Index slipped 0.4% to 11,854.97.

For the week, the major indexes closed mixed. The Dow slipped 0.7% and the S&P 500 fell 0.8%. The Nasdaq rose 0.2%.

Stocks were mixed this week as investors grappled with positive news from drugmakers about the effectiveness of their COVID-19 vaccine candidates while the US is gripped by a surge of coronavirus infections. Almost 254,000 people in the US have died of COVID-19, according to data from Johns Hopkins University.

Among stocks on the move Friday, Longview Acquisition (LGVW) climbed 27% after the blank check firm Friday announced plans to merge with medical imaging company Butterfly Network through a deal valuing the combined companies at around $1.5 billion.

On the downside, Nano Dimension (NNDM) dropped 24% after the electronics manufacturer priced a $100 million direct offering of 25 million American depositary shares at $4.00 apiece, representing a nearly 32% discount to Thursday's closing price.

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