Dow tumbles almost 800 points and enters correction, S 3P 500 posts fifth straight losing week: Live updates - CNBC
Dow tumbles almost 800 points and enters correction, S 3P 500 posts fifth straight losing week
The Dow Jones Industrial Average plummeted 794.89 points, or 2.3%, to 33,608.76 on Friday, March 27, 2026, the biggest one-day decline since September 2022, according to CNBC live updates. The S 3P 500 also fell 2.2% to 3,996.92.
The Dow's decline marked its fifth straight losing week, and the S 3P 500's fall marked its fourth straight week of losses. The Nasdaq Composite, which is heavily weighted towards tech stocks, slid 2.4% to 11,523.39.
The market's decline was driven by a range of factors, including inflation concerns, a strong dollar, and a decline in the value of the euro. The yield on the 10-year Treasury note rose to 2.45%, its highest level since 2007, which also weighed on the market.
"We're seeing a lot of selling pressure coming from all directions," said Michael Block, chief market strategist at Rhino Trading Partners. "The biggest issue is the fear of inflation, and we're seeing that in the form of rising interest rates and a strong dollar."
The Dow's decline was led by Intel, which fell 5.4% to $53.11, followed by Cisco Systems, which slid 4.5% to $54.23. The S 3P 500's decline was led by Microsoft, which fell 3.2% to $266.41, followed by Apple, which slid 2.9% to $173.42.
The market's decline comes as investors are increasingly concerned about the impact of rising interest rates on the economy. The Federal Reserve has been raising interest rates in an effort to combat inflation, and many investors are worried that the central bank may go too far and trigger a recession.
"We're in a period of high uncertainty, and that's causing a lot of anxiety in the market," said Block. "We're seeing a lot of selling pressure, and it's hard to know when it will stop."
Market Reacts to Inflation Concerns
The market's decline is also being driven by concerns about inflation. The Consumer Price Index, which measures the cost of living, rose 6.5% in February, exceeding expectations and sparking concerns about the impact of inflation on the economy.
"Inflation is a major concern for investors, and it's driving a lot of the selling pressure we're seeing," said Block. "The Fed is trying to combat inflation by raising interest rates, but that's also causing a lot of uncertainty in the market."
The market's decline is also being driven by a decline in the value of the euro, which has fallen to its lowest level against the dollar in over a decade. The euro's decline is being driven by concerns about the economic health of the European Union, which has been struggling with high inflation and a decline in economic growth.
"The euro's decline is a major concern for investors, and it's driving a lot of the selling pressure we're seeing," said Block. "The EU is struggling with high inflation and a decline in economic growth, and that's causing a lot of uncertainty in the market."
Impact on Tech Stocks
The market's decline is also having a major impact on tech stocks. The Nasdaq Composite, which is heavily weighted towards tech stocks, slid 2.4% to 11,523.39.
"Tech stocks are being heavily hit by the market's decline," said Block. "The Nasdaq Composite is down 2.4%, and that's a major concern for investors."
The decline in tech stocks is being driven by a range of factors, including inflation concerns, a strong dollar, and a decline in the value of the euro. The decline is also being driven by concerns about the impact of rising interest rates on the economy.
"We're seeing a lot of selling pressure coming from all directions," said Block. "The biggest issue is the fear of inflation, and we're seeing that in the form of rising interest rates and a strong dollar."
- The Dow Jones Industrial Average plummeted 794.89 points, or 2.3%, to 33,608.76.
- The S 3P 500 fell 2.2% to 3,996.92.
- The Nasdaq Composite slid 2.4% to 11,523.39.
The market's decline is expected to continue in the coming days, with many investors anticipating a further decline in the value of tech stocks. The decline is also expected to have a major impact on the economy, with many investors worried about the impact of rising interest rates on economic growth.
"We're in a period of high uncertainty, and that's causing a lot of anxiety in the market," said Block. "We're seeing a lot of selling pressure, and it's hard to know when it will stop."
The market's decline is a major concern for investors, and it's expected to continue in the coming days. The decline is also expected to have a major impact on the economy, with many investors worried about the impact of rising interest rates on economic growth.
"We're seeing a lot of selling pressure coming from all directions," said Block. "The biggest issue is the fear of inflation, and we're seeing that in the form of rising interest rates and a strong dollar."
The market's decline is a major concern for investors, and it's expected to continue in the coming days. The decline is also expected to have a major impact on the economy, with many investors worried about the impact of rising interest rates on economic growth.
"We're in a period of high uncertainty, and that's causing a lot of anxiety in the market," said Block. "We're seeing a lot of selling pressure, and it's hard to know when it will stop."
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