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S&P 500, Dow set for worst week in two months on recovery, taper fears

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Reuters

By Devik Jain (Reuters) – Wall Street’s main indexes were set to open lower on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus put the Dow and the S&P 500 on course for their worst week since mid-June. Oil majors Chevron Corp and Exxon Mobil Corp slipped 0.9% each, tracking steep losses in crude prices, while shares of major Wall Street banks dropped in premarket trading. [O/R] The S&P 500 energy sector is down about 7.6% this week, the most among all the 11 major S&P sectors. Travel-related stocks including cruiseliners,, dropped more than 1…

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