The Dow Industrial Average dropped 1,123 points to 42,326.87, marking its 10th consecutive day of decline and the longest since 1974.
The Dow is lining up for potentially its worst weekly performance since March 2023.
The S&P 500 fell 2.95% to 5,872.16, while the Nasdaq Composite decreased 3.56% 19,392.69 as losses in the tech-heavy index accelerated at the end of the session.
Both the 30-stock Dow and the S&P 500 recorded their largest one-day loss since August 2024.
The Dow and most other indices reacted badly to the Feds interest prediction for 2025 – suggesting ‘maybe’ only two more rates cuts to come.
Dow Jones one-day chart 18th December 2024 (after FOMC interest rate announcement)
