Market Overview

Coal For Christmas On Wall Street: S&P 500 Enters Bear Territory

Share:
Coal For Christmas On Wall Street: S&P 500 Enters Bear Territory

After a weekend of market-rattling statements by President Donald Trump and Treasury Secretary Steven Mnuchin and the beginning of a federal government shutdown, the S&P 500 ended an abbreviated Christmas Eve trading session in bear market territory.

The index was down 2.71 percent at 2,351.10 at the close Monday — a 20.06-percent fall from the Sept. 21 intraday high of 2,940.91. 

The Dow Jones Industrial Average was down 2.21 percent at 6,192.92 at the close, while the Nasdaq fell 2.91 percent to 21,792.20. 

Trump continued his criticism of Federal Reserve Chair Jerome Powell and the Fed's monetary policy during Monday's trading session: 

Mnuchin issued a statement Sunday detailing phone calls held with the CEOs of the six largest American banks while the treasury secretary vacations in Cabo San Lucas, Mexico. The conversations confirmed that "ample liquidity is available for lending to consumer and business markets," he said. 

Monday marks the first Christmas Eve in history where the S&P 500 has fallen 1 percent or more, according to MarketWatch

Related Links: 

Bulls & Bears Of The Week: Best Buy, Coca-Cola, Ford, Hilton, Netflix And More 

How Oil, Utilities And Other Sectors Have Fared During The Market Bloodbath 

Posted-In: Donald Trump Jerome Powell Marketwatch Steven MnuchinPolitics Media General Best of Benzinga

 

Related Articles (DJIA + QQQ)

View Comments and Join the Discussion!