Dow tumbles 362 points as health care stocks drag on Wall Street
31 January, 2018, 05:02 | Author: Elaine Woods
Dow component United Health Group dropped 5.6%, while Express Scripts dropped more than 9% to lead S&P 500 decliners. Such an inverted curve has occurred four times in the past year and all coincided with market bottoms.
The Dow Jones Industrial Average had plunged more than 300 points by mid-afternoon with no sign of a rebound before the closing bell.
The energy index fell 1.54 percent as USA crude prices tumbled 2 percent on ongoing evidence of rising US crude output.
Range Rover SV Coupe for Geneva
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Dolores O'Riordan will be laid to rest today
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The 364-point dive, or 1.4%, to 26,074, was the Dow's biggest single-day loss since May.
At 2:50 p.m. ET, the Dow Jones Industrial Average fell 366.73 points, or 1.39 percent, to 26,072.75, the S&P 500 lost 29.99 points, or 1.05 percent, to 2,823.54 and the Nasdaq Composite dropped 69.35 points, or 0.93 percent, to 7,397.16. The CBOE Volatility Index was up at 15.34, up about 11%, marking its highest level since August 18, 2017, according to FactSet data. Trump is expected to focus on trade and the economy, among other themes. Harley-Davidson dropped 7.7 percent after the motorcycle maker forecast a drop in shipments this year. The stock is down 8.8 percent.
Declining issues outnumbered advancing ones on the NYSE by a 4.50-to-1 ratio; on Nasdaq, a 3.15-to-1 ratio favored decliners. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy.
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Chris Coons of DE said an ultra-conservative plan from the White House "absolutely could" destabilize the bipartisan talks. John Cornyn, R-Texas, and Durbin to serve as a clearinghouse and sort out the parameters and timetable for the debate.
That proposal immediately provoked the ire of Democrats, who have been battling Republicans and Trump for weeks over immigration. Negotiations will be tough. "The President is headed in the right direction here", tweeted Sen.
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As I said before, I think I'm repeating every three days, I will be very happy to continue to work with my players. " Morata , Courtois are out", Conte said when asked about Chelsea's injury situation.
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