Weekly market review

CHRISTOPHER REYES
BUSINESS EDITOR
@cdrey

Stocks fell for the week due to continuing investor caution in response to global uncertainties.

The S&P 500 and Nasdaq composite both fell sharply, dipping below a 2 percent loss Thursday before rebounding to about a 1.5 percent loss.

The Dow Jones Industrial Average fared best, resulting in a loss of about 1 percent for the week. This was due in part to the narrow focus of the Dow which does not index Apple, which experienced a sharp loss following reports of problems with the iPhone 6 and iOS 8.

Most of the losses occurred on Thursday when the S&P 500 suffered its worst pullback since the end of July. This was partially because of the Apple loss, but the larger sell-off has been attributed to a number of causes. One possibility is investor worry following reports that Russia may seize Western assets in response to sanctions. Others blamed increased fighting in Syria.

The strength of the U.S. dollar continues to have an effect on investors who have shown concern that the recent rise in value will make exports more expensive overseas and make them less competitive. The dollar’s strength has also contributed to a rise in U.S. manufacturing at a faster rate than any other major economy.

Investors maintain fears that the Federal Reserve will increase interest rates in response to positive reports on the economy. The weekly jobless claim was below 300,000, a signal of a steadily improving job market. Investors worry that this news will cause the Fed to increase rates sooner rather than later.

On Friday, stocks recovered some of the previous days’ losses, due in part to the Commerce Department announcement that the economy is growing at its fastest pace since 2011.