The Dow Jones Industrial Average plummeted more than 1,000 points in trading early Monday afternoon as stocks fell across all three indexes.
While the Dow lost nearly 3% just after noon, the Nasdaq Composite tumbled more than 4.4% or more than 600 points, and the S&P 500 fell more than 160 points, or more than 3.6%.
Investors are anticipating fourth-quarter earnings reports from big tech companies coming Tuesday and the Fed's decision on interest rates expected Wednesday, Forbes reported.
The losses were across the board Monday afternoon, with
The losses started early with the Dow tumbling 830 points, or 2.4%, in morning trading, extending its losing streak to seven days. The S&P 500 lost 3.1% in morning trading while the Nasdaq Composite fell 3.6%.
"What had initially been a stimulus withdrawal-driven decline morphed last week to include earnings jitters,"
Inflation, the
"Winter is here and the damage under the surface has been enormous and even catastrophic for many individual stocks," he said. "
Copyright 2022 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source