On thursday the 22nd of december, the S&P 500 faced another bear episode after a periodic bull run thought to have set a tone for a festive season boom.
According to CNBC, The Dow Jones Industrial Average fell 348.99 points, or 1.05%, to 33,027.49 — after falling as much as 803.05 points earlier in the session. S&P 500 declined 1.45% to 3,822.39. Meanwhile, the Nasdaq Composite was 2.18% lower at 10,476.12.
This decline follows a 526-point rally in the Dow on Wednesday after better-than-expected earnings from Nike
and FedEx, as well as strong consumer sentiment data for December. However, the selling returned Thursday as investors remained concerned that further monetary tightening from central banks around the world will push the economy into a recession.
So far, the stock market has faced its fair share of the post Covid effect this year, with the three major ETF’s breaking its three year winning streak and recording its worst performance since 2008…