Wall Street has the worst Christmas Eve in history and the Dow Jones down 2.91%

Wall Street has the worst Christmas Eve in history and the Dow Jones down 2.91%


New YorkUpdated:

Wall Street closed on Tuesday with heavy losses and the Industrial Dow Jones, its main indicator, fell by 2.91%, the worst Christmas eve of its history and with all the main indicators in bearish zone in spite of the attempt of the Secretary of the Treasury, Steven Mnuchin, to reassure the banks.

According to data at the end of the session, which operated only half a session because it was Christmas Eve, the Dow Jones retreated 653.17 points to 21,792.20, while the selective S & P 500 dropped 2.71%, or 65, 52 units, up to 2,351.10, and the Nasdaq composite index lost 2.21%, or 140.08 whole, to 6,192.

All economic sectors they finished the day in red, and the public services (-4.26%), energy (-4.02%), real estate (-3.72%), industrial (-3.14%) and of essential goods (-2.98%).

Wall Street collapsed on its worst Christmas Eve of its entire history, which led the S & P 500 to join the bear market and a Dow Jones below 22,000 points. It is considered a bear market when it is registered a fall of 20% or more from the most recent maximum.

There is a lot of nervousness in the markets but also in the White House, from where the president Donald Trump He blames Federal Reserve (Fed) President Jerome Powell, after presuming that under his mandate the markets did not stop making money.

Trump considered that "the only problem" of the US economy is the Fed because that agency "has no tact with the market" and does not "understand" the commercial disputes in which the country is immersed.

Such is the situation that Mnuchin spoke this weekend over the phone with the directors of the six major US banks in an attempt to offer tranquility down markets, which, however, does not seem to convince seen seen today.

The truth is that, according to Wall Street analysts, there is fear of the slowdown in the global economy – Texas oil also falls sharply – and political instability derived from the third consecutive day of the closure of the US Administration.

Trump has come to feel sorry for himself for being "Completely alone" in the presidential mansion and unburdened himself sending a dozen messages on Twitter, among which this: "I am all alone (poor me) in the White House waiting for the Democrats to return and make a deal for the security of the border, desperately needed. If, at some point, the Democrats do not want to reach an agreement, it will cost our country much more money than the border wall. What madness!

Thus, the thirty stocks of the Dow Jones finished in the red zone, with Nike (-5.90%) leading the losses, ahead of Microsoft (-4.17%), Johnson & Johnson (-4.10%) , Procter & Gamble (-3.97%) and United Technologies (-3.88%).

In other markets, the Texas oil fell 4.89% today and stood at 43.36 dollars per barrel, and, at the close of the session on Wall Street, gold rose to 1,272.50 dollars per ounce, the yield of the 10-year Treasury bond fell to 2.74% and the dollar lost ground against the euro, which changed to 1.141.

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