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The Dow Jones Industrial Average fell 666 points in its worst daily performance since 2008

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rocky
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The Dow Jones Industrial Average fell 666 points in its worst daily performance since 2008

Post by rocky on Sat 03 Feb 2018, 3:56 am

The Dow Jones Industrial Average fell 666 points in its worst daily performance since 2008






2018/02/03 01:40


(Encyclopedia of this Day News | Iraq News ) - Live: US stocks fell sharply at the end of trading on Friday, lost "Dow Jones" index 666 points in one session, to record the biggest weekly loss in almost two years.


Wall Street suffered sharp losses during the weekend session after strong economic data on the labor market, which means more speculation about the pace of raising the US interest rate.


The Federal Reserve decided at its last meeting to keep the expectations of raising interest rates three times this year.


According to employment data, the US economy added 200,000 jobs in January to the job market, beating analysts' forecasts of 181,000 jobs.


The US stock market was under heavy pressure from government bond yields, which rose sharply in recent days as the yield on US 10-year Treasury bonds was the biggest weekly gain since Donald Trump's election.


Companies continue to report their quarterly results in the fourth quarter of last year as Chevron and ExxonMobil recorded the biggest losses in Dow Jones.


ExxonMobil lost more than 5% to finish at its lowest level since last December, dropping the most daily pace since August 8, 2011.


The Dow Jones ended the session down more than 2.5% or 665.7 points to drop to 25521 points, recording the worst daily performance in terms of percentage and the number of points since 24 June 2016 and since December 2008, respectively.


The industrial index posted a loss of 4.1%, or above 1095 points this week, the worst weekly performance since January 2016.


The S & P 500 shed more than 2.1% to close at 2,762.1 points, recording a weekly loss of more than 3.8%, the largest since January 2016.


While the Nasdaq fell 2% to 7,241 points, to a loss of 3.5% this week, the worst weekly performance since February 2016. 


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wciappetta
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Re: The Dow Jones Industrial Average fell 666 points in its worst daily performance since 2008

Post by wciappetta on Sat 03 Feb 2018, 7:54 am

A lot of nothing, represents only a 2.5% drop, hardly anything to concern oneself. There have been in the past over a dozen drops exceeding 7% ....


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