Dow Plunges Below 26,000 after Donald Trump Bashes Fed [View all]
Source: Yahoo Finance
The Dow and broader U.S. stock market declined sharply Monday afternoon, as investors digested President Donald Trump’s latest criticism of the ‘gentleman who loves quantitative tightening,’ a direct reference to Federal Reserve Chairman Jerome Powell.
All of Wall Street’s major indexes erased gains to trade firmly in the red by midday. As of 12:42 p.m. ET, Dow Jones Industrial Average plunged 322 points, or 1.2%, to 25,703.70.The blue-chip index rose triple digits after the open, reflecting a strong pre-market session for U.S. stock futures.
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A measure of expected volatility known as the CBOE VIX surged 23% to 16.68, where it was on track for the highest settlement since late January. The so-called “fear index” settled near five-month lows on Friday.
Read more: https://www.yahoo.com/finance/news/dow-plunges-below-26-000-162935365.html
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