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US stocks slumped on the last trading day of the year on Friday, led down by Apple and other big tech stocks, but major indexes still posted solid gains in 2016. In subdued holiday trading, the S&P 500 declined for a third consecutive session. But the benchmark index still tallied an annual gain of 9.5 percent. The Dow Jones Industrial Average climbed 13.4 percent for 2016, even as it recorded its first weekly decline since the US election on Nov. 8. Stocks stalled this week after surging in the wake of Donald Trump's presidential election. Investors have bet Trump will cut taxes and regulations and introduce fresh economic stimulus.
US stocks slumped on the last trading day of the year on Friday, led down by Apple and other big tech stocks, but major indexes still posted solid gains in 2016. In subdued holiday trading, the S&P 500 declined for a third consecutive session. But the benchmark index still tallied an annual gain of 9.5 percent. The Dow Jones Industrial Average climbed 13.4 percent for 2016, even as it recorded its first weekly decline since the US election on Nov. 8. Stocks stalled this week after surging in the wake of Donald Trump's presidential election. Investors have bet Trump will cut taxes and regulations and introduce fresh economic stimulus.
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