Chemical stocks were down 3% at $15.88 on Friday, after a big surge in the week of June 20.
The Dow Chemical Company, for instance, surged to 6,715.42 on Wednesday from 5,919.72 on Wednesday, with the rally continuing on Thursday.
Dow Chemical shares rose 6.3% on Friday.
The Standard & Poor’s 500 index, which tracks stocks in the Dow Jones Industrial Average, fell 1.2% on Thursday to 1,982.09.
The S&P 500 was down 0.3%, to 2,096.19.
The Nasdaq composite index fell 1% to 5,819.19 and the Russell 2000 fell 0.2%, to 9,818.71.
In total, the Dow, S&P, Russell and Nasdaq have all fallen more than 3% over the past week.
Dow shares are down more than 15% since the start of June.
Dow stocks fell 7% Friday, with a strong performance on Wednesday and Thursday, but they rebounded on Friday on Thursday after a strong rally on Friday that has been followed by a steep decline.
The rally came on the heels of a strong week of trading, with investors buying stocks in Dow Chemical and General Electric, two of the largest companies in the U.S. Dow and General made the biggest gains on Friday with Dow closing up more than 30% and GE up more 3%.
On Thursday, the stocks were trading at $18.70.
Dow’s stock was down 7% Thursday and closed down 3.7% Friday.
On Friday, Dow was trading at less than $16.50, down 4% from Wednesday.
“The last couple of days have been really strong and really volatile,” said Chris Moberly, chief market strategist at Wells Fargo Securities in San Francisco.
“There was a really big spike in the stock yesterday.
We’re looking to see where we’re going, and it’s probably a little too early to say that it’s a buy or sell proposition.”
Dow has fallen over 50% since June 20, when the company announced it would take a $1.4 billion charge against cash it had stashed overseas.
On Wednesday, Dow fell more than 17% to $16,981.50.
Dow was down 8% Friday on the back of a big rally on Thursday, with gains on Thursday and Friday the biggest on record.
The company had been hoping for a stronger market environment to bring its stock price back to more stable levels.
“We were just trying to push the envelope and see where it goes,” said Robert Gubel, Dow Chemical’s senior vice president of investor relations.
“It’s kind of a wild ride.”
Dow Chemical said on Friday it had a cash cushion of $1 billion in the bank, up from $1,200 million on Wednesday.
On Thursday it announced that it had paid a $2 billion settlement with the Securities and Exchange Commission over a failed merger between its chemical division and the chemical company ChemTec.
The merger with ChemTEC would have created the world’s largest chemical company.
Dow has been trying to get its chemical stocks back in its business for a long time.
The firm sold its chemical operations to private equity firm Albertsons in 2008.
Dow said on Thursday that it was “proud to have been a part of the process that led to the acquisition of ChemTek,” adding that it “will continue to be a major player in the chemical business.”
The company also said it was cutting nearly 1,300 jobs and laying off more than 5,000 employees in the next two years.
Dow is in a tough position because of the weak dollar, a weaker U.K. economy and other factors, Moberily said.
Dow also announced a plan to sell some of its chemical products to the U and European markets, and is expected to announce a new business unit for the chemicals company on Friday at a conference call with investors.
Dow announced plans to sell most of its chemicals products to U.KS.
EBA, which is the European Bank for Reconstruction and Development, has agreed to buy ChemTech and ChemTECH, the parent of Dow Chemical, for $2.4 trillion.
Dow plans to hold a new public offering next year.
The stock market has fallen more steeply since the Dow Chemical stock market crash of 2016, with many investors saying the company is no longer a strong investment and that the company will not be able to recover.
Dow reported earnings of $9.95 per share on Thursday in its first-quarter results.
On Tuesday, the company reported a quarterly loss of $2 million.
Dow declined to comment on Dow’s quarterly earnings.