Looking back, the housing industry is totally Scrooged

Looking back, the housing industry is totally Scrooged

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Investments / The Ticker

Major stock indices finish down

Dow records worst week since 2011

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The stock market suffered one of its worst weeks in recent years, with all but one stock on the HW 30 ending in the red.

The HW 30 trended down all day and completed the day down -1.70%.

While a majority of the stocks fall, MGIC (MTG) saw the biggest drop finishing down 8.71%.

Despite the mortgage insurers significant drop, it recorded a fourth-quarter 2013 profit of $1.4 million, or zero cents per share, compared to a net loss of $386.7 million, or $1.91 per share, a year ago.  

Real estate investment trust Annaly Capital Management (NLY) was the only firm to finish the day with a gain and raised 0.19%.

But the HW 30 was far from the only index to complete the day drastically in the red.

The S&P 500 and Nasdaq concluded the day down more than 2%, while the Dow dropped nearly 320 points, or almost 2%, an article from CNNMoney said.

"The losses come at the end of the worst week for stocks in recent memory. The Dow tumbled more than 3.5%, its worst week since November 2011. The S&P 500 slid more than 2.6%, logging its biggest weekly decline since May 2012," the article noted.

In addition, the article said the Nasdaq plummeted almost 1.7%, its first weekly decline of the year and the worst since August 2013.  

Next week marks the third week of bank earnings, along with the release of the Federal Open Market Committee (FOMC) meeting minutes. 

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