Trump Economy in YO-YO Decline -600+ Stock Market Today: November 12, 2018
After The Close - Stocks opened lower this morning, and weakened further as the session progressed. Ultimately, the bulls and bargain hunters remained on the sidelines, making it difficult for the major averages to rebound.
At the close of the session, the Dow Jones Industrial Average was down 602 points; the broader S&P 500 Index was off 55 points; and the technology-heavy NASDAQ was lower by 206 points (nearly a 3% drop). Market breadth showed broad based selling, as declining issues outpaced advancers by a roughly 2 to 1 margin on the NYSE.
Most of the major equity market sectors declined, with steep losses in the technology names. Specifically, shares of Apple (AAPL Free Apple Stock Report) slipped following investor concerns regarding its business outlook. In contrast, the defensive utilities managed to stage a slight advance.
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