Dow falls 1,000 points Thursday, drives the blue-chip stock-market index below its 200-day moving average

The Dow Jones Industrial Average DJIA, -3.84% tumbled 1,000 points late-morning Thursday, driving the index below a closely followed gauge of long-term momentum. The index was trading down 3.7% at 25,980, which is well beneath its 200-day moving average at 26,323.87, according to FactSet data. The blue-chip index has traded above that long-term gauge since June 4, as the recovery from the coronavirus-induced rout accelerated.

The index remains well above its short-term 50-day moving average at 24,268.36, however. It's important to note that the Dow is remains in a bearish condition, known as a death cross, where the long-term moving average is above the short-term average. Markets have been under pressure on Thursday after the Federal Reserve painted a grim picture of the domestic economic outlook and as cases of COVID-19 were resurging in some 20 states in the U.S.

It's not like markets were overvalued, or anything. 🙄😷

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Stocks Take A Breather, Dow Falls 200 PointsThe market opened lower this morning, a day after the S&P 500 turned positive for 2020 and fully recouped its losses from the selloff caused by the coronavirus pandemic by skleb1234 skleb1234 The effect of the Corona Virus pandemic on the market is still overwhelming. Recovery would definitely going to be a gradual process for most businesses.
Fonte: Forbes - 🏆 394. / 53 Leggi di più »