It was a frightful Friday the 13th on Wall Street! The three major averages experienced their worst week since August, all putting a stop to a six-week winning streak. The Dow shed more than 200 points to close down 3.7% for the week. The S&P fell more than a percent. And the Nasdaq fell more than 77 points, which capped its losses at more than 4% on the week..
And as stocks fell, investor anxiety shot up! The VIX, or investors' fear gauge, shot up to its highest level in five weeks.
The retail sector got robbed! These names can't even see Christmas on the horizon there are so many clouds in their face right now. Names like Fossil (NASDAQ:FOSL), Nordstrom (NYSE:JWN), J.C. Penney (NYSE:JCP) and GameStop (NYSE:GME) all tanking on this:
October retail sales missed the Halloween bump! Up a measly 0.1% when the expectation was an only slightly less-anemic gain of 0.3%.
But the Chinese still adore Colonel Sanders! Just as KFC parent Yum! Brands (NYSE:YUM) gears up to spin off its China unit, the company announced same-store sales at all of its restaurants in the region rose by 5% last month. Yum! stock jumped 3.5%.
Driving to your local KFC or Taco Bell? It'll cost you less! Oil slipped and slid this entire week, settling Friday just north of an uber cheap $40 a barrel, down 8% this week.