Wall Street ends sharply lower, Dow drops over 450pts

Friday, 22. March 2019 21:06

United States stock markets finished the Friday trading session with sharp losses as the Dow Jones Industrial Average Index plunged over 450 points at the closing bell. Investors' optimism was subdued by widespread fears of a global economic slowdown, fueled by downbeat economic data from around the world. Market watchers were also concerned about the inverted yield curve, as the spread between the 3-month Treasury bill yield and its 10-year counterpart turned negative for the first time in more than 10 years.

Meanwhile, American stocks were also pressured by Nike shares, which were in decline after the company posted a disappointing earnings report yesterday. Boeing also added to the losses after Indonesia's Garuda airline hinted at the possibility of canceling a $4.9 billion deal for 50 units of 737 MAX 8.

The Dow Jones finished trading just at session lows, tumbling 459 points, or 1.77%, with Nike the worst performer. The Nasdaq 100 sustained major losses at the closing bell to end 2.22% lower, with Western Digital the worst contributor. The S&P 500 dropped 1.90% to post the worst day since January, weighed down by the banking sector. The euro was 0.65% lower against the dollar to sell for 1.1300 at 4:01 pm ET.

Related Links: NIKE Inc.
Author:
Breaking the News / FH