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The Dow Jones Industrial Average unofficially closed down 215.26 points, or 0.49%, at 43,933.30 on December 12, 2024, marking its sixth consecutive day of decline. This downturn represents the longest losing streak for the index since April 2024. The decline has been attributed to a pullback in Big Tech stocks and investor concerns regarding economic data ahead of the upcoming Federal Reserve meeting. Notably, producer prices rose more than expected in November, while jobless claims unexpectedly increased, raising worries about the labor market. Observers noted that if the historical pattern from 1929 holds, the decline may pause for a week starting Monday.
The Dow Jones fell for the sixth day in a row on Thursday after benchmark indices on Wall Street took a pause ahead of the US Fed policy next week and some hotter-than-expected macro data. The Dow Jones fell close to 250 points yet again, the Nasdaq Composite fell 0.7% after… https://t.co/dYdZ4vd8rW
#DowJones posts longest losing streak since April as #WallStreet rally pauses https://t.co/pjUzZ9Iyrw
Wall Street retreated as investors assessed economic data ahead of the Fed meeting. Producer prices rose more than expected in November, but lower service costs signaled disinflation. Jobless claims unexpectedly increased, sparking labor market concerns https://t.co/7uCOeXfKwq https://t.co/34CuAzm88J