Dow Dips Below 24,000 Before Staging Major Comeback

The stock market appeared to be headed deeper into the red, with the Dow Jones Industrial Average shedding 507 and dipping below 24,000 points in early trading on Monday (December 10), however, the markets rebounded and the Dow Jones erased the early losses and closed the day ahead 34 points at 24,423.26. The S&P 500 saw a slight increase, finishing the day at 2637.72, while the Nasdaq jumped 51 points to close at 7020.52.

The recovery was led by Facebook, Amazon, Netflix, and Alphabet. Apple started the day in the red but managed to claw back to the black after the company's stock fell over two percent. 

The markets were trending lower after it was announced the British Prime Minister Theresa May had delayed a vote on the Brexit deal as it became apparent it was unlikely to pass. In addition, investors continued to worry about ongoing trade tensions between the United States and China and a slowdown in economic growth. 

"The big worry is economic growth," David Joy, chief market strategist at Ameriprise Financial told CNN. "Nobody knows what to make of the trade situation."

Photo: Getty Images


Sponsored Content

Sponsored Content