Wednesday, 31 January 2018 04:20 WIB |
MARKET UPDATE |DOW JONESS & P 500Saham AS
The Dow Jones Industrial Average on Tuesday fell sharply adding to its losses to start to week and marking its worst two-session skid in about 16 months, according to WSJ Market Data Group.
The Dow closed off about 362 points, or 1.4% at 26,076, marking its steepest daily drop since Aug. 18 and its worst two-session slump since Sept. 9, 2016. The S&P 500 index closed down 1.1% at roughly 2,822, while the Nasdaq Composite Index ended the day off 0.9% at around 7,400.
The blue-chip Dow industrials registered the worst performance of the three main benchmarks, with shares of UnitedHealth Group Inc. cutting 72 points from the price-weighted gauge. The move lower for stocks comes as borrowing costs, by way of the 10-year Treasury yield climbed to its highest level in more than three years on Monday.
Despite the downturn for stocks that had mostly been in an uptrend, Wall Street strategists still mostly see the upward trend as intact. Looking ahead, investors are awaiting the State of the Union address from President Donald Trump later Tuesday as well as the Federal Reserve's latest policy update on Wednesday.
Source : Market Watch