The end of Monday’s trading session reflected a hangover from the Federal Reserve’s commentary last week on a possible interest rate hike coming as early as March. The S&P 500 index (SPX) and Dow Jones Industrial Average (DJIA) again ended in the red, shedding 0.14% and 0.45% respectively. This was the fourth consecutive day of decline for the Dow Jones Industrial index, and the fifth consecutive day of the same for the S&P 500.
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The losses incurred by the stocks in the industrial and banking sectors were to blame for the decrease. However, these losses were partially offset by gains in healthcare stocks. The DJIA chart below shows the declining trend of the Dow Jones Industrial index over the past 4 days (January 4 onwards).
The Nasdaq Composite, however, showed signs of recovery, after incurring major losses earlier in the day due to an increased sell-off activity in the broader market. Notably, the index was down 2.7% at the lowest point during the day.
Following this fall, the index closed a little less than 0.1% higher at the end of Monday’s trading hours. As a result, the Nasdaq 100 index (NDX) closed 0.14% higher as well. The bounce-back in technology stocks played a large part in pulling the indexes up.
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