Market Overview

What Happened On Wall Street Today?

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Markets sold off big time on Wall Street today. The Dow Jones Industrial Average declined 525 points or 1.9% closing at 26,763.13, the Nasdaq closed off down 330 points or 3.0% at 10,632.99, and the S&P 500 closed down 78 points or 2.3% at 3,236.92. 

What Drove Markets Lower Today?

The sell-off was led by mega-cap tech stocks (FAANG). Facebook Inc (NASDAQ: FB) declined by 2.3%, Amazon.com Inc (NASDAQ: AMZN) was down by 4.1%, Apple Inc (NASDAQ: AMZN) was down 4.2%, Netflix Inc (NASDAQ: NFLX) declined by 4.2%, and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) was down 3.5%. In my opinion, this is just probably going to be a rotation every other day or so until we can get some more stimulus to help boost the markets and economic data.

Top Gainers And Losers In Each Index

Dow Jones Industrial Average Gainers and losers

GAINER: Nike Inc (NYSE: NKE) up 8.7%

LOSER: Salesforce.Com Inc (NYSE: CRM) down 4.7%

Nasdaq Gainers and Losers

GAINER: Western Digital Corp (NYSE: WDC) up 6.7%

LOSER: Tesla Inc (NASDAQ: TSLA) down 10.3%

S&P Gainers and losers

GAINER: Nike

LOSER: Albemarle Corp (NYSE: ALB) down 15.5%

What's Ahead For Tomorrow

Data to watch for the indices tomorrow begins with weekly jobless claims at 8:30 am EST and at 10:00a m EST new home sales.

 

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