S&P down Nasdaq down Dow down
The US stocks tumbled lower in trading today with all the 3 major indices lower. However, it was a lot worse at the intraday lows.
At the lows:
- The Dow was down -257 points. It is ending down -168 points or -0.79%
- The S&P was down about -34 points. It is ending down -21 points or -0.86%
- The Nasdaq was the big loser. It was down -146 points at the low. It is ending down -90 points or 1.44% at 6144.35. Still, the Nasdaq is closing below its 50 day MA for only the 2nd time in 2017 (50 day MA is at 6149.99). It will be curious to see if the momentum continues tomorrow.
Although high flyers like FB (-1.44%), AMZN (-1.45%), Netflix (-2.16%) and Alphabet (-2.41) got hit, the financials held onto gains. Citi was up 2.76%, JP Morgan rose 1.48%, Wells Fargo increased by 2.67%. The banks announced increase dividends and buyback after the Fed stress test results opened the door for distribution of excess capital.