Major Wall Street Indices Record Significant Decline on Nov. 15
Wall Street experienced its steepest decline since Election Day as market enthusiasm from Trump's victory and Fed rate cuts diminished.
Wall Street markets recorded their steepest decline since Election Day as the enthusiasm from Trump's recent victory and the Federal Reserve's interest rate reduction continued to dissipate.
The S&P 500 declined by 1.3 percent for the day's session. Meanwhile, the Dow Jones Industrial Average retreated 0.7 percent, and the Nasdaq composite experienced a sharp 2.2 percent fall.
Vaccine manufacturers, including Moderna, led the market downturn after President-elect Donald Trump's appointment of Robert F. Kennedy Jr., a known vaccine skeptic, as health secretary. The Treasury market experienced volatility following the release of economic data that exceeded expectations.
On Friday:
The S&P 500 declined 78.55 points, or 1.3 percent, to 5,870.62.
The Dow Jones Industrial Average shed 305.87 points, or 0.7 percent, to 43,444.99.
The Nasdaq composite dropped 427.53 points, or 2.2 percent, to 18,680.12.
The Russell 2000 index of smaller companies decreased 33.10 points, or 1.4 percent, to 2,303.84.
For the week:
The S&P 500 has fallen 124.92 points, or 2.1 percent.
The Dow has declined 544 points, or 1.2 percent.
The Nasdaq has dropped 606.66 points, or 3.1 percent.
The Russell 2000 has decreased 95.80 points, or 4 percent.
For the year:
The S&P 500 has gained 1,100.79 points, or 23.1percent.
The Dow has advanced 5,755.45 points, or 15.3 percent.
The Nasdaq has risen 3,668.77 points, or 24.4 percent.
The Russell 2000 has climbed 276.76 points, or 13.7 percent.
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Jonathan Reed
Jonathan has over 20 years of experience in business management and entrepreneurship. He started his career in traditional industries, such as retail and manufacturing, and gradually transitioned into tech startups and cryptocurrency investment in the last decade. With a Bachelor's degree in Business Administration, he combines formal education with hands-on experience in managing successful ventures.
Jonathan is deeply familiar with market trends, risk management, and investment strategies. Over the past five years, he has developed a strong portfolio in cryptocurrency, stocks, and real estate.