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Tuesday, December 4, 2018

Dow Plunges Nearly 800 Points On Rising Fears Of An Economic Slowdown

By: Fred Imbert
CNBC


Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to jitters on Wall Street.

The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posted its worst day since Oct. 10. At its low of the day, the Dow had fallen more than 800 points.

The S&P 500 declined 3.2 percent to close at 2,700.06. The benchmark fell below its 200-day moving average, which triggered more selling from algorithmic funds. Financials were the worst performers in the S&P 500, plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent.

Read more at CNBC.

"The S&P 500 lost almost $755 BILLION today. That is more money lost in a single day for public equity investors than all crypto investors combined this year. The math don’t lie!" -Anthony Pompliano

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