Dow Jones declines for 6th consecutive day, marking longest losing streak since June


(MENAFN) On Monday, the Dow Jones Industrial Average extended its decline for the sixth consecutive trading day, marking its longest losing streak since last June. The blue-chip index experienced a notable decline of 248 points, or 0.65 percent, ultimately closing at 37,735. Similarly, the broader market indices also witnessed significant losses, with the S&P 500 falling by 61 points, or 1.2 percent, to settle at 5,061, while the tech-heavy Nasdaq plummeted by 290 points, or 1.79 percent, to end the session at 15,885.

Market volatility, as measured by the VIX volatility index, surged by 11.1 percent to reach 19.23, indicating increased investor anxiety and uncertainty. Meanwhile, the yield on the 10-year US Treasury bond rose sharply by 2.46 percent to 4.610 percent, reflecting shifting dynamics in bond markets.

In currency markets, the US dollar index edged higher by 0.16 percent to 106.20, while the euro saw a marginal gain of 0.02 percent against the greenback, trading at USD1.0625.

Precious metals experienced upward momentum, with gold advancing by 1.6 percent to USD2,383 per ounce and silver gaining 3.5 percent to USD28.87 per ounce.

Oil prices, however, remained relatively flat, with the global benchmark Brent crude trading at USD90.38 per barrel and the US benchmark West Texas Intermediate (WTI) at USD85.65 per barrel. Despite ongoing geopolitical tensions and supply concerns, oil markets showed limited movement during the trading session.

MENAFN16042024000045015839ID1108098701


MENAFN

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.