Particle.news
Download on the App Store
6 ARTICLES
·
4mo ago

Dow Jones Suffers Longest Losing Streak Since 1974, Plunges Over 1,100 Points

The index's 10-day slide is fueled by Federal Reserve projections, healthcare sector turmoil, and underperforming tech stocks.

Trader Michael Milano works on the floor of the New York Stock Exchange, Wednesday, Dec. 18, 2024.
Image
Image
Image

Overview

  • The Dow Jones Industrial Average has fallen for 10 consecutive trading days, marking its longest losing streak in 50 years and a 6% decline over that period.
  • Wednesday’s 1,123-point drop followed the Federal Reserve's scaled-back forecast for only two interest rate cuts in 2025, dampening hopes for quicker economic recovery.
  • UnitedHealth Group’s stock, down nearly 20% this month after the fatal shooting of its CEO, and Nvidia’s recent declines have significantly dragged on the price-weighted index.
  • Despite the Dow's slump, broader markets like the S&P 500 and Nasdaq remain relatively strong, with the Dow still up 14% for the year.
  • Market analysts point to diverging sector performance, with tech-heavy indices benefiting from growth stocks while the Dow faces pressure from healthcare and select tech underperformers.