The Globe and Mail reports in its Saturday, Nov. 8, edition that the Nasdaq closed lower, while the S&P 500, Dow, and S&P/TSX Composite Index gained ground on Friday, recovering from a volatile week marked by economic concerns and the longest U.S. government shutdown. A Reuters dispatch to The Globe reports that although all three major U.S. indexes had significant losses earlier in the day, they rebounded late after reports of progress in Congress. Despite this, all indexes declined from last week's close, with the Nasdaq experiencing its largest weekly drop since late March/early April due to worries over inflated valuations in artificial intelligence stocks that have driven recent market gains. Concerns from the government shutdown impacted the University of Michigan's November Consumer Sentiment, which dropped to its lowest in over three years. Participants' views on current conditions reached an all-time pessimistic level, with overall sentiment sliding 29.9 per cent since November, 2024, when President Donald Trump was re-elected. The S&P/TSX Composite Index ended up 43.60 points, or 0.2 per cent, at 29,912.19, after clawing back its earlier losses. For the week, the index was down 1.15 per cent, its second straight weekly decline.