Major Stock Indexes Down 6% For The Week
(New York, NY) — The Dow Jones Industrial Average, S&P 500 and Nasdaq are all down more than six percent for the week. It’s the last full trading week of the year, and the stock market will finish 2018 in the red unless there’s a significant turnaround. However, a turnaround may not be likely considering an interest rate hike from the Fed this week and a very likely partial government shutdown at the end of the day. A new report showed slower-than-predicted growth in the GDP in the third quarter. The Dow Jones Industrial Average is down 414 points to 22-445. The Nasdaq closed 195 points lower to 63-33 which put it officially in a bear market. A bear market is when a price falls 20 percent or more over a two-month period. The S&P 500 lost 51 points to close at 24-17.
Tech stocks were battered today, with Apple, Google, and Microsoft all down more than three percent. Nike stock jumped seven percent today with a strong earnings report and rosy online sales.
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Alex Tsotsos/kds
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12-21-2018 14:16:13
