NEW YORK: Global stocks finished an ugly week with another volatile session Friday as the buying frenzy over GameStop and some other equities resumed amid stepped-up scrutiny from regulators.
Major US indices fell about 2% following similar drops in Europe and Asia, while investors shrugged off some positive developments on coronavirus vaccines.
Analysts said there were factors besides the drama around GameStop influencing the pullback on Friday and earlier in the week.
These include concerns over lofty equity valuations given the economic weakness caused by Covid-19. Investors are also worried US fiscal stimulus may lag market expectations after President Joe Biden’s $1.9 trillion package garnered a skeptical reception in Congress.
But much of the focus…
