Wall Street Down After Rollercoaster Week

Wall Street slid from profit to loss in a way "rollercoaster" this week, amid concerns about euro zone, the tension on the Korean peninsula and in the middle of the United States holiday.

"The U.S. stock market suffered a mild trading this week due to Thanksgiving holiday, but trading volatile due to geopolitical concerns," said analysts at Briefing.com

Dow Jones Industrial Average fell one per cent for the week, while the S & P 500 index fell 0.7 percent.

Trading this week was dominated by news that Ireland has approved 114 billion dollar bailout from the European Union and the IMF, in the face of unsustainable borrowing costs.

Public defamatory bailout prompted the government to call for early elections next year, and the fate of a reform package that accompanies remain in balance.

Traders initially appears to take the bailout news calmly, but because of growing fears that the crisis could swallow Portugal and even Spain - one of Europe's biggest economy - traders reduce risk exposure.

It hit several banks with big exposure to Europe.

Barclays shares traded in the U.S. fell more than seven percent during the week.

European banks UBS, Deutsche Bank, Credit Suisse and Royal Bank of Scotland they were also seen their share prices in the U.S. fell.

U.S. Bank suffers less, but not immune. Shares of Morgan Stanley fell 3.5 percent and Citigroup and Bank of America also hit.

U.S. stocks also struggled against the increasing tension between North Korea and South Korea.

In one of the most serious border incident since 1950, North Korea fired dozens of artillery shells into or around an island in South Korea in the Yellow Sea near the disputed border, killing two Marines and two civilians and burned dozens of homes.

A gloomy forecast by the Federal Reserve that the U.S. economy will grow much more slowly than previously expected next year, further trade jerking.

Minutes from the Fed's meeting in November, where members decided to renew the purchase of major assets in an effort to boost the economy, showed growth will be around half a percentage point less than expected this year and in 2011.

Forecast presented at the meeting showed that the prediction of growth "anemic" (lack of blood) has been trimmed to 2.4 to 2.5 percent this year and 3.0 to 3.6 percent next year.

But as consumers began to increase for the holiday season, retailers got a boost from news of rising consumer spending and an improving job market.

Positive news coming from the job market, where the initial U.S. jobless claims fell more than expected last week amounted to 34,000 from the previous week to 407,000, tended to decline stabilized in recent weeks.

Another report showed U.S. consumer spending and more in October, raising hopes ahead of the holiday shopping season which usually begins on "Black Friday" after Thanksgiving holiday on Thursday.

The news caused the Dow rose more than 150 points on Thursday, although many short-lived rise.

Week ends with scorn on Friday as the Dow fell 95 points in a shortened trading day.

But technology stocks benefited from the atmosphere of optimism, with the Nasdaq up 0.7 percent for the week.

Amazon is one of the main recipient, with its shares rose more than seven percent. EBay shares rose nearly three percent.

Resilience retailers will be tested next week when the first sale of the first weekend in mind.

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