Wall Street ends a sluggish day lower, still up for the week

NEW YORK (AP) — Wall Street ended a wobbly day lower Friday after worries about rising coronavirus infections in several states undercut an early rally. The selling followed word that Apple will temporarily close 11 stores as coronavirus cases rise across swaths of the South and West, just weeks after reopening them. The closures crystallize investors’ worries that rising infection levels could halt the budding improvements the economy has shown recently. The S&P 500 lost 0.6%, but still ended the week 1.9% higher, its fourth weekly gain out of the last five. Crude oil prices ended higher and bond yields held steady.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story is below:

Wall Street is stumbling in Friday afternoon trading after worries about rising coronavirus infections in several U.S. states undercut an earlier rally.

The selling followed word that Apple will temporarily close 11 stores in Arizona, Florida and the Carolinas as coronavirus cases rise across swaths of the South and West. The closures crystallize investors' worries that rising infection levels could halt the budding improvements the economy has shown recently.

The S&P 500 was down 0.4%, as of 2:45 p.m. Eastern time, after erasing a 1.3% gain from earlier in the day. The Dow Jones Industrial Average was down 140 points, or 0.5%, at 25,939, and the Nasdaq composite was down 0.2%.

Despite the reversal, the S&P 500 is still on track for a gain of 2% for the week, its fourth in the last five. Markets have drifted up and down this week as optimism rises on one hand that the economy is on the path to recovery as more businesses reopen. On the other is concern that a resurgence in infections could force more business shutdowns or scare consumers and businesses away from spending.

The uncertainty is so high that all it took to shake...