Wall Street indexes dip with focus on Trump policies, economic data
By Sinéad Carew and Lisa Pauline Mattackal
Tue November 12, 2024 5:11 PM
The Trump rally appears to be losing steam as investors today have focused on the potential negative impact of his economic policies stoking more inflation and hampering growth. Ahead of inflation data coming later this week (CPI, PPI and retail sales) and trying to hedge bets against weak reports, all three indexes went into a substantial decline all morning with a particularly strong dip between 12:30 and 1:30 before at least tech recovered to near break-even.
The Dow did not fare as well, continuing its decline all day to close with a mid-3-digit loss. In addition to the inflation concerns, there may also have been some good old fashioned profit taking after last week’s enormous rally. A wet blanket on Trump inflation also came from Europe where equities fell 2%. 3-1/2 stocks fell for every one that advanced. Volume continues to beat the 4-week average of 13.17 billion, coming in today at 15.3 billion.
DJ: 44,293.13 +304.14 NAS: 19,298.76 +11.99 S&P: 6,001.35 +5.81 11/11
DJ: 43,910.98 -382.15 NAS: 19,281.40 -17.36 S&P: 5,983.99 -17.36 11/12
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