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The Dow sinks 650 points in the final days of 2024
The Dow dropped 650 points on Monday morning as lighter trading volumes were anticipated in the final days of 2024. The market experienced a wave of profit-taking, especially in the technology sector.
By mid-morning, the Dow Jones Industrial Average had dropped 657 points, or 1.4%. Meanwhile, the S&P 500 and the tech-heavy Nasdaq (NDAQ) Composite fell 1.4% each, reflecting broad-based weakness across key indices.
Please note that the New York Stock Exchange and Nasdaq will suspend trading on Thursday, January 9, in observance of a National Day of Mourning following the passing of former President Jimmy Carter. The 39th president of the United States, Carter, passed away on Sunday, leaving behind a legacy of public service and humanitarian efforts. Additionally, the bond market will operate on a modified schedule, closing early at 2:00 p.m. ET.
Technology stocks were firmly in the red, continuing the downward trend from Friday. Amazon (AMZN) slid 2.2%, Apple (AAPL) lost 1.7%, Tesla (TSLA) dropped 2.8%, Microsoft (MSFT) fell 1.6%, Alphabet (GOOGL), the parent company of Google, declined 1.2%, and Meta Platforms (META) shed 1.8%.
AI stocks such as Super Micro Computer (SMCI), Palantir (PLTR), Nvidia (NVDA), and Micron Technology (MU) fell sharply, dropping by 3.6%, 2.5%, 0.2%, and 3.5%, respectively.
The Dow Jones Industrial Average took a major hit in the final days of 2024, sinking a whopping 650 points. This decline marks a significant drop in the stock market as the year comes to a close.
Investors are feeling the pressure as uncertainty looms over the economy and geopolitical tensions continue to escalate. The ongoing trade war and political unrest in various regions have contributed to the market volatility.
As we head into the new year, many are wondering what 2025 will bring for the stock market and the global economy. Will we see a rebound in the coming months, or are we in for more turbulence ahead?
Only time will tell, but one thing is for certain – the Dow’s sharp decline in the final days of 2024 serves as a reminder of the unpredictable nature of the stock market. Investors should proceed with caution and stay informed as we navigate the ever-changing landscape of the financial world.
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- Stock market news 2024
- Dow Jones drop
- Market volatility
- Economic trends
- Financial news update
- Stock market analysis
- Investing in 2024
- Market downturn
- Stock market performance
- Market forecast 2024
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