It’s morning in America again for the stock market in the wake of Donald Trump’s second election, with the Dow Jones Industrial Average jumping more than 1,200 points or 3 percent, the benchmark S&P 500 up 1.9 percent and tech-dominated Nasdaq Composite up 1.8 percent, Yahoo Finance reports.
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U.S. stock markets dropped massively by the end of its business day on Monday, marking one of the worst days for the market since 2022.
The Dow Jones Industrial Average dropped 1,034 points from Monday’s opening, or 2.6 percent. The Nasdaq Composite lost 3.4 percent, and the S&P 500 dropped 3 percent, according to CNBC.
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Former President Donald Trump blamed the Monday stock market dive on Vice President Kamala Harris in a series of Truth Social posts.
The market experienced a worldwide sell-off on Monday that hit American stocks as concerns over a possible U.S. recession take hold, Fox Business reported. Trump took to Truth Social to attribute the downturn to Harris being “even worse” than President Joe Biden, predicting an economic depression in 2024.
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Stocks slid significantly Wednesday, with the Dow Jones Industrial Average plummeting nearly 650 points, as key midterm races were still being counted and cryptocurrency market fears shook investors out of a three-day rally, The Wall Street Journal reported Wednesday.
All three major indices fell, with the Dow falling 2%, the S&P 500 dropping 2.1% and the tech-heavy Nasdaq Composite Index plunging 2.5% by the end of the business day, the WSJ reported. Investors anticipated that the U.S. government would be gridlocked by Republicans gaining control of at least one branch of Congress, a status typically considered good for business, and though Republicans are still expected to gain control of the House of Representatives, their control is not expected to be as commanding as predicted.
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Next week will mark one and a half years since Joe Biden became president on Jan. 20, 2021. On July 20, every American should look within and ask: “Am I better off than I was 18 months ago?”
To Biden’s credit, the unemployment rate has fallen from 6.4% when he took office to 3.6% in June. Today’s figure is a notch higher than the 3.5% joblessness that Americans enjoyed in February 2020, thanks to President Donald Trump’s Republican tax cuts, deregulation, energy dominance, and other pro-growth initiatives.
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The stock market dropped during early trading Monday after the U.S. benchmark oil index briefly touched its highest level since the Great Recession.
The Dow Jones Industrial Average, an index measuring 30 major U.S. corporations, dropped 0.94% as of early Monday. The S&P index, which measures 500 of the largest publicly-traded companies, fell more than 0.93% while the NASDAQ, an index largely comprised of technology firms, declined 0.98%.
Late Sunday, the benchmark West Texas Intermediate crude oil futures hit more than $130 per barrel for the first time since July 2008. The index remained high on Monday, hovering above $118 per barrel, up more than 3%.
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Major stock market indices plummeted Monday in a continuing sell-off tied to China’s declining property value, increasing COVID-19 cases and lack of progress in Congress on increasing the debt limit.
The Dow Jones Industrial Average (DJIA), an index measuring 30 major U.S. corporations, dropped 1.78% on Monday. The S&P index, which measures 500 of the largest publicly traded companies, fell 1.7%, while the NASDAQ, an index composed largely of technology firms, declined 2.19%.
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U.S. stocks shed more than 500 points as the markets opened Monday morning as emerging risks continue to become the September story for Wall Street.
The Dow Jones Industrial average fell 570 points – its biggest single day drop since mid-July. The S&P 500 lost 1.4%, while the tech-oriented Nasdaq Composite dropped 1.6%.
The sell-off comes as a the result of a number of investor concerns. On Tuesday, the Federal Reserve will begin a two-day meeting, which investors are worried will result in a decision that will pull stimulus funds as inflation continues to surge.
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Private companies added 330,000 jobs in July, far fewer than expected and the lowest amount since February, according to a major payroll report.
The 330,000 jobs added to private payroll last month represented a significant decline from the 680,000 jobs added in June, the ADP National Employment Report showed. Economists predicted that private companies would add 653,000 jobs in July, nearly double the number reported Wednesday, according to CNBC.
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Big technology companies powered stocks higher on Wall Street Monday, adding to the market’s gains after a three-week winning streak.
The S&P 500 rose 0.84% after being down 0.3% in the early going. Gains by technology and communication stocks and companies that rely on consumer spending outweighed losses elsewhere in the market. The rally, which gained strength in the final hour of trading, nudged the benchmark S&P 500 index to a slight gain for the year and drove the Nasdaq composite to an all-time high.
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