xi's moments

US stocks fall sharply, extending last week's huge losses

Xinhua | Updated: 2018-12-25 04:50

A trader works on the floor of the New York Stock Exchange at the end of the day in New York. [Photo/IC]

NEW YORK -- US stocks plunged on Monday, with most of the major indices booking their worst Christmas Eve decline, extending their huge losses in the previous week's rout.

The Dow Jones Industrial Average slumped 653.17 points, or 2.91 percent, to 21792.20. The S&P 500 decreased 65.52 points, or 2.71 percent, to 2,351.10. The Nasdaq Composite Index slid 140.08 points, or 2.21 percent, to 6,192.92.

All the 30 components of the Dow reported negative results at the close, pushing the index creeping closer toward bear-market territory.

All the 11 primary S&P 500 sectors closed lower, with both utilities and energy down more than 4 percent, among the biggest laggards. The S&P 500 fell more than 20 percent from its recent intraday highs in September, slipping into a bear market.

The Nasdaq had another brutal day after dipping into bear market territory last Friday.

The US stocks posted a huge loss in the week ending Dec 21 as investors digested central bank's latest rate hike decision and a batch of economic data.

For the past week, the Dow shed 6.9 percent, the S&P 500 erased 7.1 percent, and the Nasdaq declined 8.4 percent. The week saw the worst performance for the Dow and the Nasdaq since 2008, and the S&P 500's worst performance since 2011.

BACK TO THE TOP
Copyright 1995 - 2018 . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349