Tag: Dow Jones Industrial Average

Dow Plummets More than 600 Points as Election Drags Out

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New York Stock Exchange

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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Commentary: After 18 Months of Biden, We Have Yet to Hit Bottom

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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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Stock Market Sinks, Oil Tops $130 as West Considers Russian Energy Sanctions

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oil fields

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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