FYI: U.S. stocks fell to the lowest since May 2017 as the turmoil in Washington kept investors on edge after the worst week for American equities in almost a decade. Crude sank below $45 a barrel and the dollar tumbled.
The S&P 500 slid for a fourth day, edging ever closer to a bear market after breaking below 2,400, while the Dow dropped more than 300 points. The Nasdaq Composite erased some of its earlier loss as Amazon Inc. pared a decline of as much as 5 percent. Trading in S&P 500 stocks was 40 percent above the 30-day average on a day that’s normally subdued ahead of the Christmas holiday.
Investors looking to Washington for signs of stability that might bolster confidence instead got further rattled. President Donald Trump blasted the Federal Reserve, blaming the central bank for the three-month equity rout days after Bloomberg reported he inquired about firing the chairman.
The comments came after Steven Mnuchin called a crisis meeting with financial regulators, who reportedly told the Treasury secretary that nothing was out of ordinary in the markets. Traders also assessed the threat to the economy from a government shutdown that looks set to persist into the new year.
The Dow Industrials fell 653 points, or 2.9%, to 21,792 in recent trading, while the S&P 500 slipped 2.7%.
The Nasdaq Composite also fell, shedding 2.2%, after closing more than 20% below its recent high to enter bear-market territory on Friday.
All eleven of the S&P 500 Sectors ended in negative territory.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/global-stocks-slip-amid-treasury-department-comments-11545642300Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-12-24/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-12-23/asian-stocks-set-to-slip-yen-up-as-caution-reigns-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/us-stock-futures-point-to-a-christmas-eve-bounce-for-battered-equities-2018-12-24/printIBD:
https://www.investors.com/market-trend/stock-market-today/bear-market-stocks-sell-off/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-falls-for-fourth-straight-day-with-no-santa-in-sight-idUSKCN1ON0RACNBC:
https://www.cnbc.com/2018/12/24/us-stock-futures-fall-slightly-as-the-dow-attempts-to-rebound-from-its-worst-week-in-a-decade.htmlU.K.:
https://www.marketwatch.com/story/london-markets-jittery-ahead-of-christmas-break-2018-12-24/printEurope:
https://www.marketwatch.com/story/us-government-turmoil-spooks-european-markets-2018-12-24/printAsia:
https://www.marketwatch.com/story/asian-markets-mostly-lower-as-investors-await-wall-streets-next-move-2018-12-23/printBonds:
https://www.cnbc.com/2018/12/24/bonds-treasury-yields-lower-amid-stock-market-volatility.htmlCurrencies:
https://www.cnbc.com/2018/12/24/forex-markets-japanese-yen-swiss-franc-us-politics-in-focus.htmlOil:
https://www.cnbc.com/2018/12/24/oil-markets-global-crude-supply-in-focus.htmlGold
https://www.cnbc.com/2018/12/24/gold-markets-us-politics-dollar-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashxQuote
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