Markets Plummet in Worst Christmas Eve Trading Day Ever - NBC 5 Dallas-Fort Worth
National & International News
The day’s top national and international news

Markets Plummet in Worst Christmas Eve Trading Day Ever

The Dow Jones dropped by 653 points and the S&P 500 fell 2.7 percent, entering a bear market



    Rocky Week on Wall Street

    Private wealth adviser Derrick Kinney talks to NBC 5 about the worst December for the stock market since the Great Depression. (Published Monday, Dec. 24, 2018)

    U.S. stocks plunged on Monday in their worst Christmas Eve trading ever, as the S&P 500 entered a bear market, CNBC reported.

    The Dow Jones Industrial Average dropped by 653 points, falling below 22,000. The S&P 500 fell 2.7 percent and the Nasdaq Composite Index slid 2.2 percent. 

    The New York Stock Exchange closed early at 1 p.m. ET Monday. The exchange will be closed Tuesday for Christmas and reopened on Wednesday. 

    Investor confidence has been weighed down by turmoil in Washington, and the markets responded. 

    Trapped Hong Kong Protesters Rappel Down Hoses to Escape

    [NATL] Trapped Hong Kong Protesters Rappel Down Hoses to Escape

    Harrowing footage shows protesters trapped inside Hong Kong Polytechnic University rappelling down hoses to escape a police siege. About 100 anti-government protesters remain inside the university on a third day of clashes between protesters and police. 

    (Published Tuesday, Nov. 19, 2019)

    Multiple reports said President Donald Trump wants to fire Fed Chairman Jerome Powell, whom he nominated to replace predecessor Janet Yellen, for raising interest rates. 

    Trump lashed out at the Federal Reserve Monday after administration officials spent the weekend trying to assure the public and financial markets that  Powell's job as Fed chairman was safe.

    "The only problem our economy has is the Fed," Trump tweeted. "They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt!"

    U.S. Treasury Secretary Steve Mnuchin called the CEOs of six major banks Sunday in an apparent attempt to reassure jittery financial markets but only accentuated concerns in the markets.

    In an unusual move, Mnuchin disclosed the calls with the heads of Bank of America, Citi, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo in a tweet about the private conversations.

    Mnuchin said the CEOs all assured him they have ample money to finance all their normal operations, even though there haven't been any serious liquidity concerns rattling the market.

    Melting Sea Ice Spurs Spread of Marine Diseases

    [NATL] Melting Sea Ice Spurs Spread of Marine Diseases

    Melting sea ice on its own presents plenty of challenges for Arctic marine mammals, from loss of habitat, to changing predator prey dynamics. Now there's a new challenge present in a link between sea ice loss and the spread of disease between previously isolated marine life.

    (Published Tuesday, Nov. 19, 2019)

    Worries about slowing economic growth and rising interest rates saddled the U.S. market with its worst week in more than seven year. Barring a turnaround, stocks are now headed for their single worst month since October 2008, when the market was being battered by the global financial crisis. That crisis was triggered by a reckless lending spree that prompted a taxpayer-backed bailout of several U.S. banks.

    But the circumstances are dramatically different now that the U.S. economy has been growing steadily since 2009. Most experts believe the growth will continue in the U.S., but there are signs things are slowing down in Europe and China.

    Dysfunction in Washington isn't helping the situation, with a budget impasse between President Trump and Congress triggering a partial U.S. government shutdown that could last into the new year.