US Stock Market Suffers: Major Indices Plunge

IconCryptoNewsTerminal Staff17 Jul, 2024

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US Stock Market Suffers: Major Indices Plunge

The three major US stock market indices, the S&P 500, Nasdaq, and Dow Jones Industrial Average, have all opened significantly lower, extending losses from the previous session. The S&P 500, a broad measure of the stock market, opened down by 1.01%, breaking below the key psychological level of 4,000. The Nasdaq Composite, heavily weighted towards technology stocks, fell by a more substantial 1.75%. Meanwhile, the Dow Jones Industrial Average, which includes blue-chip companies, declined by a more modest 0.22%. These losses add to the downward trend seen in recent months, as concerns over rising inflation, interest rate hikes, and geopolitical tensions have weighed on investor sentiment. The S&P 500 has now fallen by over 15% from its all-time high reached in January 2022, while the Nasdaq has lost nearly 30%. The decline in the US stock market mirrors a broader global sell-off, with major indices in Europe and Asia also trading lower. Investors are advised to exercise caution and carefully consider their investment strategies amid ongoing market volatility.

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