The Dow Jones Industrial Average careened into the close on Friday, finishing down 169 points, or 1%, at 16346. That left it off about 6.2% for the first five trading days of the new year. That is the worst opening five days in the index’s history, eclipsing the 5.6% drop the index had in 1978.
The S&P 500 is in the same boat. It dropped 21 points, or 1.1%, on Friday, closing at 1922 and down about 6% for the week. That is the worst opening five-day stretch for the index ever, wider than the 5.3% loss in 2008.
