Recession Fears, Federal Reserve Dash 'Santa Claus Rally' Hopes as Market PlungesThe U.S. stock market suffered one of its worst days of 2022 as the leading benchmark indexes fell sharply on Thursday, dashing hopes of a year-end Santa Claus rally.
Investors engaged in a broad-based selloff toward the end of the trading week. The Dow Jones Industrial Average (DJIA) plummeted as much as 919 points. The tech-heavy Nasdaq Composite Index plunged nearly 400 points, while the S&P 500 Index lost as much as 115 points.
Year to date, the Nasdaq has lost 30 percent, the S&P 500 has tumbled 18 percent, and the DJIA has slumped more than 8 percent.
Some of the biggest names on the New York Stock Exchange endured steep losses. Shares of Alphabet, Amazon, and Apple lost roughly 4 percent. Meta shed close to 6 percent, while Netflix plummeted 8.5 percent. Bank shares also slumped, with Bank of America and JPMorgan Chase declining 2 percent....
Source: Recession Fears, Federal Reserve Dash 'Santa Claus Rally' Hopes as Market Plunges (https://www.theepochtimes.com/recession-fears-federal-reserve-dash-santa-claus-rally-hopes-as-market-plunges_4926929.html)
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