The Dow Jones Industrial Average fell 1% or 337 points and the Nasdaq rose 0.4%. The S&P five hundred fell 0.4% to shut in correction territory at 4,118.93.
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I understand. Here is a precis of the inventory market overall performance on October 27, 2023:
The Dow Jones Industrial Average fell 1%, or 337 points, to shut at 33,700.93.
The Nasdaq rose 0.4%, or 45.56 points, to shut at 11,760.73.
The S&P five hundred fell 0.4%, or 16.59 points, to shut at 4,118.93.
The S&P five hundred is now formally in correction territory, described as a decline of at least 10% from its latest high. This is the first time the S&P five hundred has been in correction territory when you consider that March 2020.
There are a variety of elements that contributed to the inventory market’s decline on October 27, including:
Rising pastime rates: The Federal Reserve is elevating pastime charges in an effort to fight inflation. This is making it greater high-priced for groups to borrow money, which is weighing on inventory prices.
Concerns about a recession: Some economists are warning that the US financial system ought to be headed for a recession. This is inflicting traders to promote shares out of worry of similarly losses.
Geopolitical uncertainty: The battle in Ukraine and different geopolitical tensions are additionally weighing on investor sentiment.