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The Dow Jones industrial average closed 1,033 points lower on Thursday, the second day of the week it has experienced a four-digit loss.
The Dow fell 4.1 percent, closing at 23,860. The Nasdaq lost 274 points on the day (3.9 percent), while the S&P 500 closed with a 100-point loss (3.75 percent).
Thursday's close is the second time in history the Dow has lost more than 1,000 points in one day. It fell 1,175 points on Monday.
The latest plunge in stocks means a market correction has officially taken place, as the market has dropped more than 10 percent from a peak on Jan. 26.
Overall, the Dow has 2,756 points since Jan. 26, erasing 2018’s early stock gains and cutting into the massive increase the index experienced during President Trump’s first year in office.
Stocks posted sharp losses Thursday with the Dow shedding 1,032 points, as higher interest rates continued to rattle investors.
The Dow Jones Industrial Average tumbled 4.15% to 23,860, notching its second-worst point drop in history. The S&P 500 fell 100 points, or 3.75%, to 2,581. The Nasdaq Composite was down 274 points, or 3.9%, at 6,777. The sell-off pushed the Dow and S&P 500 into correction territory, when stocks fall at least 10% from their highs.
U.S. equities extended their losses in a week overtaken by wild swings in the stock market. The Dow, which booked a record-breaking loss of 1,175 points Monday, has shed roughly 2,700 points since Friday amid a brisk retreat from all-time highs. Positive U.S. economic data, such as stronger wage growth and low unemployment, has raised Wall Street’s odds that Federal Reserve policymakers will raise interest rates faster than anticipated.
It's percentages, not points. An investor friend said not to buy stocks unless you are in for the long haul. Also don't buy if you have debt. Pay debts first. He is watching everything closely now, looking for bargains.
"Anytime someone tells me a little correction was healthy, I am so skeptical. Any point that the economy is healthy is not enough to get rid of that speculative froth. Are we done with inflationary scares? Are we done with higher interest rates? I don't think so. I want someone to tell me this is an unhealthy correction, then I am full board in."
Stocks sold off sharply on Thursday while yields on government bonds rose to their highest levels in years.
The Dow Jones Industrial Average dropped by around 1,033 points, or around 4.15 percent Thursday morning. The S&P 500 fell by around 3.75 percent. The Nasdaq Composite Index declined 3.9 percent.
Companies in the S&P 500 have lost around $2 trillion in market capitalization since the stock market high on January 26, according to an analysis by CNBC.
Government bonds weakened as well. Yields on the 10-year Treasury note climbed near 2.9 percent, indicating the price of the bond was falling. Yields have since retreated, however, to 2.82 percent.
The Dow Jones industrial average closed 1,033 points lower on Thursday, the second day of the week it has experienced a four-digit loss.
The Dow fell 4.1 percent, closing at 23,860. The Nasdaq lost 274 points on the day (3.9 percent), while the S&P 500 closed with a 100-point loss (3.75 percent).
Thursday's close is the second time in history the Dow has lost more than 1,000 points in one day. It fell 1,175 points on Monday.
The latest plunge in stocks means a market correction has officially taken place, as the market has dropped more than 10 percent from a peak on Jan. 26.
Overall, the Dow has 2,756 points since Jan. 26, erasing 2018’s early stock gains and cutting into the massive increase the index experienced during President Trump’s first year in office.
Nor attacking business owners and their business. That's not his job. That's interfering...it just is.
And ironically the party of smaller govt doesn't seem to see any problems with a President clearly set on trying to bring down businesses that don't support his agenda or that he doesn't like.
He should concern himself with working out a budget deal and an immigration policy, not commenting on the stock market.
There was a 8 trillion dollar run up. I would be more concerned if there wasn't a correction. And Trump is 100% correct, investors see rising wages and strong growth numbers possibly cutting off their cheap money.
This is the stupidest correction I've ever seen. I have a list of stocks that I buy on every dip and they've all gone up...wth!
And the economy is just starting to ignite. Job growth is starting to crunch the fast food restaurants and pharmacy chains here in the bluest county of the blue state of NY. Employers are desperate to hire.
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