Originally published December 24, 2018 at 9:47 a.m., updated December 24, 2018 at 1:28 p.m.
NEW YORK (AP) — Stocks plunged Monday, with the Dow Jones Industrial Average falling 653 points following President Trump’s tweet attacking the Federal Reserve and its independence.
The Dow Jones lost 2.9 percent and the benchmark S&P500 lost 2.7 percent after the president’s tweet expressing frustration over the Fed’s decision to raise its key short-term rate.
The Nasdaq fell 2.2 percent. Bond prices rose. The yield on the 10-year Treasury note fell to 2.74 percent.
Trading volume was low as the market closed early ahead of the Christmas holiday shutdown.
9:47 a.m.
NEW YORK (AP) — Stocks are opening lower on Wall Street Monday as key U.S. indexes remain on course for their worst December since the 1930s. Bank stocks are among the worst off after news of the treasury secretary’s call with CEOs of six major banks accentuated investors’ concerns.
The S&P 500 is down 0.5 percent at 2,404 and the Dow Jones Industrial Average is down 0.6 percent at 22,304. The Nasdaq Composite is down 0.3 percent at 6,309.
In holiday-thinned half-day trading in Europe, France’s CAC 40 is down1.5 percent and Britain’s FTSE 100 is down 0.5 percent.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.77 percent.