Find Out Why US30 is Plunging!
The US stock market ended lower at the end of the New York session (Thursday), seeing the US30 or Dow Jones Industrial remain stuck below the 34,000 level.Walt Disney Co. was among the biggest gainers in the Dow Jones, although it later retreated from session highs.Disney jumped more than 5% in early trading to a 5-month high, after the company reported a smaller-than-expected drop in customers in the fourth quarter of 2022.Despite that, CEO Bob Iger also delivered the sad news, where as many as 7,000 jobs will be cut as part of a cost-cutting and restructuring plan.In general, the market lacked a major catalyst to drive the move, but a rise in the 10-year US treasury yield was seen as the reason for the slowdown in stock trading.The Dow Jones Industrial ended down 249.1 points or 0.75 at 33,699, while the S&P 500 fell 36.3 points or 0.9% to 4,081.5 and the Nasdaq lost 120.9 points or 1% to 11,789.The Nasdaq suffered further losses on investment in Alphabet shares following the failure of Google's new Bard chatbot, raising investor concerns about the company's ability to compete in AI technology.
The US stock market ended lower at the end of the New York session (Thursday), seeing the US30 or Dow Jones Industrial remain stuck below the 34,000 level.
Walt Disney Co. was among the biggest gainers in the Dow Jones, although it later retreated from session highs.
Disney jumped more than 5% in early trading to a 5-month high, after the company reported a smaller-than-expected drop in customers in the fourth quarter of 2022.
Despite that, CEO Bob Iger also delivered the sad news, where as many as 7,000 jobs will be cut as part of a cost-cutting and restructuring plan.
In general, the market lacked a major catalyst to drive the move, but a rise in the 10-year US treasury yield was seen as the reason for the slowdown in stock trading.
The Dow Jones Industrial ended down 249.1 points or 0.75 at 33,699, while the S&P 500 fell 36.3 points or 0.9% to 4,081.5 and the Nasdaq lost 120.9 points or 1% to 11,789.
The Nasdaq suffered further losses on investment in Alphabet shares following the failure of Google's new Bard chatbot, raising investor concerns about the company's ability to compete in AI technology.
