Market Turmoil: Dow Jones Enters Uncharted Territory
The Dow Jones Industrial Average has entered unprecedented territory, experiencing its longest losing streak in over four decades. Today’s 267-point drop, a 0.6% decline, marks the ninth consecutive day of losses, a phenomenon not seen since 1978.
Federal Reserve’s Interest-Rate Decision Looms
As investors anxiously await the Federal Reserve’s interest-rate decision, the market is bracing for impact. The S&P 500 also felt the pressure, falling 0.4%, with a majority of its constituent stocks trading in the red. This marks the 12th consecutive day of negative breadth, a record streak dating back to December 31, 1999.
Nasdaq Composite Sees Modest Decline
Meanwhile, the Nasdaq Composite, fresh from a record close on Monday, dipped 0.3% today. The yield on the 2-year Treasury note plummeted to 4.239%, while the 10-year yield dropped to 4.384%.
Investors on Edge
As the market navigates these uncharted waters, investors are growing increasingly uneasy. The prolonged losing streak has sparked concerns about the overall health of the economy, and all eyes are on the Federal Reserve to see how it will respond to the current market volatility.
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