Major US indices are closing sharply to the downside with declines near by 5.5% – 6%

Major US stock indices all move sharply lower for the second consecutive day. The S&P index in the NASDAQ index closed down6%.

The final numbers are showing:

• Dow industrial average -2231.07 points or -5.5% or 38314.86
• S&P index -322.44 points or -5.97% at 5074.05..
• NASDAQ index -962.82 points or -5.82% and 15587.79.
• Russell 2000-83.51 points or -4.37% and 1827.03

The trading week for each of the major indices was the worst going back to the 2020 pandemic

• Dow industrial average fell -7.86%.
• S&P index for -9.08%
• NASDAQ index fell 10.02%
• Russell 2000-9.70%

For the trading year the major indices are all down sharply:

• Dow industrial average -9.94%
• S&P index -13.73%
• NASDAQ index -19.28%

From the all-time highs for the major indices:

• Dow industrial average is 14.99%
• S&P index -17.77%
• NASDAQ index -22.85%
• Russell 2001 25.93%

Looking at the Magnificent 7 for the year:

• Nvidia -29.77%
• Meta -13.80%
• Microsoft -14.63%
• Alphabet -23.09%
• Apple, -24.77%
• Amazon -22.06%
• Tesla -40.71%

This article was written by Greg Michalowski at www.forexlive.com.