The Dow plummeted in just two hours. Donald Trump claimed every upward gain as a result of his own efforts to “Make America Great Again.” When the Dow falls like a rock, is that his responsibility, too? The sharp downward trend has been making investors very nervous.
Caterpillar and 3M losses are leading in the fall. They blamed an anticipated drop in profits and the difficulty of obtaining raw materials, respectively. Apple and tech stock earnings are also down. Most importantly, the Dow reflects a rise in interest rates.
The way the Dow works is that it forecasts a future based upon different factors and projects it onto a chart. In addition, there has been a very calm market for the past two years. That means, it is time for change.
CNBC Now tweeted:
‘Dow falls more than 370 points.’
Shortly after the loss began its climb downward, CNBC Now reported:
‘BREAKING: Dow extends fall, down more than 450 points.’
CNBC Now tweeted that the index had dropped more than two percent, which is the percentage for a stock market adjustment:
‘Dow drop continues, with the index now off more than 2%; S&P and Nasdaq selling-off as tech and consumer staples slide.’
The economic slow continued with more bad breaking news:
‘BREAKING: Dow drops more than 500 points,’
Then, the Dow fell to a “fresh session low:”
‘Dow falls to fresh session low, down more than 530 points.’
The news got worse. The Dow slid over 600 points:
‘BREAKING: Dow slides more than 600 points; Alphabet, Amazon, other tech names slammed.’
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