Monday was almost like mayhem for the capital markets. Wall Street witnessed a strong wildfire in recent times. Dow Jones, one of the major indices of the New York Stok Exchange (NYSE) swung between highs and lows before settling for a pretty tight bear hug (concluding incomplete red).
Stock Price at the Beginning
Interestingly markets opened on moderately higher stock prices, based on a stimulus deal that concluded before the ensuing general elections. Yet another factor that bolstered the bull ride in a blink at was resilient economic news from China. However, the bull ride lasted only for a brief period gradually paving the path for the bear to a sleepover.
The Dow and its Activity
The Dow slipped 411 points, dipping by 1.4%, after soaring up to 570 points. This was within a few hours of the opening bell, and of course, going up and down in between. On the other hand, the S&P 500 closed after dipping by 1.6% at the end of the day and the NASDAQ Composite ended at 1.7% —witnessing its fifth bear run for the fifth consecutive day.
The fluctuation of US Stocks
Stocks within the US Capital Markets have been witnessing a fluctuation in recent times, owing to several incidents, one of them being the delaying of the vaccine test for Covid-19, followed by an unexpected futile stimulus deal, which has kept the US on tenterhooks, coupled with rising Covid positive cases across the country – all these against the backdrop of the upcoming General Elections. And experts opine that differences between the House Democrats and White House continue to remain.
These events are continuously impacting the market. As a result, investors’ sentiments and stock prices are feeling the heat for quite some time now. Just as history repeats itself, October also happens to be the 33rd anniversary of the 1987 Wall Street Crash that not only stirred up the US economy but also created ripples within the global economy.