LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Wall Street drops one percent after Dow's record-breaking surge

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Dec 27, 2018
08:59 pm
Reuters
RELATED NEWS
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21
Budget 2021: HDFC Bank, other banks hail FM Sitharaman for these reasons; check details Budget 2021: HDFC Bank, other banks hail FM Sitharaman for these reasons; check details

U.S. stocks tumbled 1 percent on Thursday in a broad-based decline led by energy shares, giving back some of the gains from a spectacular rally a day earlier that helped the blue-chip Dow Jones Industrial Average surge more than 1,000 points for the first time ever.

All the 11 S&P sectors fell more than 1 percent and all the 30 components of the Dow Jones Industrial Average were in the red.

A drop in oil prices led to a 2.21 percent drop in the energy index, while technology and consumer discretionary stocks shed 1.54 percent and 1.77 percent, respectively.

At 9:48 a.m. ET the Dow Jones Industrial Average was down 387.30 points, or 1.69 percent, at 22,491.15, the S&P 500 was down 39.21 points, or 1.59 percent, at 2,428.49 and the Nasdaq Composite was down 98.10 points, or 1.50 percent, at 6,456.25.

Wednesday`s rebound, which also helped all three indexes notch their largest daily percentage gains in nearly a decade, was fueled by a strong U.S. holiday sales report, a jump in oil prices and investors reversing bets against a wide range of stocks after four days of declines.

The rally was because the market was very oversold and small investors mostly boosted the market higher, said Naeem Aslam, chief market analyst at Think Markets UK Ltd in London.

"Traders will be booking profits from the gains they made yesterday and that will be the major focus for investors," Aslam added.

Despite Wednesday`s rally, the Dow and S&P are still down more than 10 percent for the month, on pace for their biggest monthly percentage drop since February 2009.

Weighing on sentiment was President Donald Trump`s comment that he was prepared to wait as long as it takes to get funding for his U.S.-Mexico border wall, a demand that has triggered a partial shutdown of the federal government that is now in its fifth day.

Congress was scheduled to reconvene after a holiday break on Thursday and resume debate on the matter.

Separately, Reuters reported Trump is considering an executive order in the new year that would bar U.S. companies from using telecommunications equipment made by China`s Huawei Technologies Co Ltd and ZTE.

This comes as China and the United States plan face-to-face consultations to resolve their trade dispute, which has rocked stock markets, along with concerns over slowing economic growth and rising interest rates.

After strong holiday sales report from Mastercard on Wednesday, investors will watch for the consumer confidence data due at 10:00 a.m. ET, which is likely to show the index fell to 133.7 in December from 135.7 in the month before.

Declining issues outnumbered advancers for a 5.52-to-1 ratio on the NYSE and for a 3.13-to-1 ratio on the Nasdaq.

The S&P index recorded no new 52-week highs and one new lows, while the Nasdaq recorded three new highs and 89 new lows.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21
Budget 2021: HDFC Bank, other banks hail FM Sitharaman for these reasons; check details Budget 2021: HDFC Bank, other banks hail FM Sitharaman for these reasons; check details

LATEST NEWS

Sanofi India share price: Sharekhan retains Buy rating with an unchanged price target of Rs 9249

Get free BSNL SIM cards! Offer open for limited period only - RUSH

Anil Singhvi recommends selling at these market levels; ample opportunities for entry at lower points

Gangubai Kathiawadi: AMAZING Alia Bhatt! Check POWERFUL first look, story, release date, cast and other details

7th Pay Commission Latest News: How pensioners will benefit from DA, TA, salary hike for central government employees?—EXPLAINED

BOOSTER dose for Yes Bank! CDP rates ‘A-' (Leadership Band); achieves Environmental Management System certification for eighth year

Attention NEET 2021 candidates! Check expected exam date

PLI scheme: Tapping India's manufacturing capabilities! Big step from Modi government to woo global players

Big message! PM Narendra Modi says government has no business to be in business

Realme Narzo 30A, Realme Narzo 30 Pro 5G launched in India - Check Price, Camera, Specs, Offers and more!

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved