by Stock Market Today
Dow Jones Index worst fallout of more than 700 points in the last three months.
Dow Jones, S&P 500 index, and Nasdaq tech index, all three declined heavily on Thursday and closed below their respective prev month’s low. Dow Jones Index worst fallout of more than 700 points in the last three months. The main reasons for the decline were the Fed rate hike of 0.5 basis points and fears about a long recession. To fight inflation, FED is likely to monitor the interest rate hike till 2024 year.
European Central Bank and Bank of England also hiked the interest rate by 0.50 basis points, which alarm the fears of recessions in Europe also.
S&P 500 fell by 2.49% to 3895.74, Dow Jones fell by 2.25% to 33202.23 and Nasdaq 100 fell by 3.37% to 11345.22 on Thursday, which was the worst in the last three months.
Main Key factors to consider …
> U.S. treasury 10 Years note yields decline below 3.45% and Two years note yields also declined.
> U.S. Doller Index went higher.
> WTI Crude Futures traded around $76 per barrel.
> Jobless claims declined to 211,000 from 231,000 a week ago.
Investors are staying away from the market of fears of a big decline in the next weeks and staying away from fresh new positions in the market.
Apple AAPL, Meta Facebook, and Google Alphabet all dropped more than 4.25%. Media stocks like Netflix NFLX and WarnerBrother WDS fall heavily more than 8.5% … as missing the target of viewerships. Tesla stock closed higher by 0.55% after making a new 52-week low.
Dow Jones Today average
Dow Jones still holds above 50 EMAs and 200 EMAs, an indication of the UP strength. Thursday’s Dow Jones low was 33016, which was nearer to the 50 EMAs @ 32950. 5 EMAs is still above 20 EMAs, which indicates of UP trend. Fibonacci Retracements 0.382% is at 32225, which will act as a strong support for the Dow Jones index.
Currently, Dow Jones Futures is running more than -300 points down from yesterday’s close.
Our passion is for Finance, Stock market, Motivational, Vedic Astrology, Health care, and Yoga.