Dow Jones Industrial Average, 10th Straight Down Session, Longest Losing Streak Since 1974
December 18th, 2024Via: Yahoo Finance:
Stocks were clobbered Wednesday after the Federal Reserve, despite slashing interest rates by 25 basis points, signaled it would cut fewer times next year than previously projected.
All three major reversed gains following the decision to end with steep losses. The Dow Jones Industrial Average was down about 2.6%, or over 1,000 points, clinching its 10th straight down session, the longest losing streak since 1974. Meanwhile, the S&P 500 fell roughly 3%, and tech-heavy Nasdaq Composite slid more than 3.5%.
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