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Market Plunge: Dow, S&P, Nasdaq Fall Sharply
24 Sep
Summary
- Major US stock indices—Dow, S&P 500, and Nasdaq—experienced significant declines.
- Utilities, Consumer Services, and Technology sectors led the market downturn.
- Salesforce shares surged, while McDonald's and Home Depot hit multi-year lows.
On Wednesday, US stock markets concluded with notable losses across major indices. The Dow Jones Industrial Average saw a 0.68% decrease, the S&P 500 declined by 0.75%, and the NASDAQ Composite fell 1.13%. These downturns were significantly influenced by weaker performance in the Utilities, Consumer Services, and Technology sectors.
Individual stock performances showed a mixed picture amidst the broader market decline. Salesforce Inc. emerged as a top performer on the Dow, with its shares climbing 1.84%. In contrast, McDonald's Corporation experienced a sharp drop, reaching a three-year low, and Home Depot Inc. shares fell to a 52-week low.
Further down in the technology sector, CrowdStrike Holdings Inc. reached an all-time high. However, several other tech-related stocks faced significant losses. The CBOE Volatility Index increased by 6.76%, indicating heightened market uncertainty. Commodities also saw movement, with crude oil prices rising while gold futures decreased.
