Wall Street stocks plunged for a fourth straight session Monday amid rising doubts over the US economy after Treasury Secretary Steven Mnuchin's efforts to reassure investors fell flat. The Dow Jones Industrial Average slumped more than 650 points, or 2.9 percent, to 21,792.20. The broad-based S&P 500 fell 2.7 percent to 2,351.11, while the tech-rich Nasdaq Composite Index slid 2.2 percent to 6,192.92. Alarmed traders are now sending the S&P 500 to its largest annual drop since 2008 as Mnuchin's efforts to reassure them seemed to have backfired. CNBC reported the losses were the worst ever for Wall Street on Christmas Eve, a holiday shortened session ahead of Tuesday's holiday, when markets will be closed. The Wall Street dive was helped by U.S. President Donald Trump's tweet criticizing Federal Reserve Chairman Jerome Powell. "The only problem our economy has is the Fed. They don't have a feel for the Market, they don't understand necessary Trade Wars or Strong Dollars or even … [Read more...] about US stocks post worst ever Christmas Eve drop, sending S&P 500 to its biggest annual fall since 2008
Day trading sp 500
New York -- Stocks sank sharply Monday, with the S&P 500 falling to its lowest level in more than a year and the Dow shedding nearly 500 points amid ongoing concerns about U.S. economic growth. The S&P 500 index is down more than 2 percent in 2018 and has fallen nearly 13 percent since setting a record high in late September. The Dow and Nasdaq each fell more than 2 percent on the day and are both in the red in 2018. The Russell 2000 index of small-cap stocks is down 20 percent since it finished at its last record high at the end of August. Wall Street calls a 20 percent decline a "bear market," and it's considered a major downturn.The S&P 500 lost 54 points to close at 2,546, at 14-month low. Obamacare ruling hits health stocksShares of health insurers and hospitals slumped after a federal judge in Texas ruled that the 2010 Affordable Care Act is unconstitutional. Hospital operator HCA dropped 2.5, while health insurer UnitedHealth lost 1.9 percent. Centene, a … [Read more...] about S&P 500 falls to lowest level in more than a year
U.S. stocks veered sharply lower in afternoon trading Tuesday, pulling the Dow Jones Industrial Average down 700 points, while the S&P 500 index slid 79 points. The wave of selling erased the market's gains from a day earlier, when stocks rallied on news that the U.S. and China had agreed to a temporary truce in their trade dispute. Investors' confidence in that truce appeared to falter Tuesday, contributing to renewed fears about a slowing global economy. Technology companies, banks and industrial stocks accounted for much of the sell-off as traders moved assets into the relative safety of U.S. government bonds, driving yields sharply lower. Utilities stocks rose. Smaller-company stocks fell more than the rest of the market. "You have the drop in bond yields and the implications on growth going forward," said Willie Delwiche, investment strategist at Baird. "The bigger issue is you have this unwind from yesterday's rally." The S&P 500 index slid 79 points, or 2.9 percent, to … [Read more...] about S&P 500 and Dow sinks 3 pct as US-China trade uncertainty fuels market plunge
U.S. stocks closed lower after a shortened session Friday, bumping the benchmark S&P 500 index into a correction, or drop of 10 percent below its most recent all-time high in September. Energy companies led the market slide as the price of U.S. crude oil tumbled to its lowest level in more than a year, reflecting worries among traders that a slowing global economy could hurt demand for oil. "Oil is really falling sharply, continuing its downward descent, and that appears to be giving investors a lot of concern that there's slowing global growth," said Jeff Kravetz, regional investment director at U.S. Bank Private Wealth Management. "You have that, and then you have the recent sell-off in tech and in retail, and then throw on there trade tensions and rising rates." Losses in technology and internet companies and banks outweighed gains in health care and household goods stocks. Several big retailers declined as investors monitored Black Friday for signs of a strong holiday shopping … [Read more...] about S&P 500 slides into “correction” — down 10% — again this year
Adam Shell USA TODAY Published 10:13 AM EST Nov 20, 2018 The wave of selling on Wall Street intensified Tuesday, with big losses in popular tech stocks extending the recent stock market slide and erasing the 2018 gains of the Dow, Nasdaq composite and broad S&P 500 stock index. The selling pressure was again focused in the hard-hit technology sector, where shares of all the so-called FAANG stocks -- Facebook, Apple, Amazon, Netflix and Google parent Alphabet -- were all lower. All five stocks, which had been leading the market higher during the bull market, are now down more than 20 percent from their highs in the past year, which puts them in bear-market territory. The biggest decliners are Facebook, which has been hounded by data privacy issues, down more than 40 percent from its recent peak, and Netflix, which is off nearly 38 percent. "The selloff is a continuation of the rotation away from high flying tech names and ongoing worries about the U.S.-China trade … [Read more...] about Stock market selloff erases 2018 gains for Dow and S&P 500.