Wall Street ended the first session of the week on declines of more than 2% for the fourth consecutive session
US stocks ended early trading this week early on the red for the fourth consecutive session to reflect a 17-month low in the shadow of Wall Street's extended sell-off caused by market pricing for slowing growth and concern about US government closures. The pulse of trading on indicators will be lost Tuesday due to the Christmas holiday.
Last week's indexes were the worst performing streak since August 2011 on Wall Street, with the Dow Jones Industrial Average shedding 1,655 points, or nearly 7%, to reflect its worst weekly performance since October 2008, The Standard & Poor's 500 is also around 7%, reflecting a bounce of nearly 18% of the highest level ever to be near the edge of the bull market.
The Nasdaq Composite Index confirmed last week that it entered the market after reversing its decline by about 22% from its all-time high on Wall Street in August following the Federal Reserve's decision on Wednesday to raise Interest rate of 25 basis points for the fourth time this year to between 2.25% and 2.50% and move forward in reducing bond buybacks.
The Dow Jones Industrial Average ended the session down by 2.91% or 653.17 points at 21,792.20 points. The Standard & Poor's 500 Index shed 2.71% or 65.52 points to close at 2,351.10 points, while the NASDAQ Composite declined 2.21% Or 140.08 points to close at 6,192.92 points.
In contrast, gold futures for February delivery rose 1.14% to currently trade at $ 1,272.50, the highest since June 25 compared to the opening at $ 1,258.10 an ounce, with the US dollar index falling 0.43% to 96.54. Opening at 96.96.
On the other hand, Nymex crude futures for February delivery fell 6.38% to trade at $ 42.68 per barrel, the lowest since June 22, 2017 compared to the opening at $ 45.59 a barrel. Brent crude for delivery February 14 6.30% to trade at $ 50.43 a barrel, the lowest since the end of August of 2017 compared to the opening of $ 53.82 per barrel.