Weekly Market Recap - Friday, 8-Dec

US equities were down this week, with the Dow Jones, S&P500, and Nasdaq closing the week down 75 bps, 129 bps, and 193 bps respectively and the S&P and Nasdaq dropping back below their 50-day moving averages. It was a generally risk-off week in the market, though there was a big focus on a stronger-than-expected read for August ISM Services. Fedspeak stressed that the path forward would remain dependent on the incoming data. The big corporate story of the week was the 6.0% slide in Apple, which faced headwinds from a China government ban.