This Week in the Economy

by CoyDavidson on May 18, 2012

The big news this week was the much publicized Facebook IPO. The social network set its final IPO price at $38 a share and ended the opening day session at $38.23. While the opening day pop failed to materialize the trading volume of approximately 567 million shares easily set a new volume record for IPOs.

All three indexes posted their worst weekly losses of the year, finishing at the lowest levels since January.The Dow lost 3,5% for the week while the Nasdaq fell 5.3%, and the S&P declined 4.3%. On the commercial real estate front, the American Institute of Architect reported that after five months of positive readings, the Architecture Billings Index (ABI) has fallen into negative terrain.

Below are links to the top economics news for the week:

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