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American Focus > Blog > Economy > The Dow drops 200 points as investors brace for Election Day
Economy

The Dow drops 200 points as investors brace for Election Day

Last updated: November 4, 2024 11:16 am
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The Dow drops 200 points as investors brace for Election Day
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On the eve of Election Day, the stock market experienced some turbulence as investors held back, awaiting the outcome of the election. The Dow Jones slid 200 points, indicating a sense of caution among investors who are bracing for potential market volatility. This subdued activity was mirrored by a rally in safe-haven U.S. Treasurys, suggesting a shift towards lower-risk assets in the face of uncertainty.

As the trading day progressed, the Dow Jones Industrial Average dipped by 203 points, marking a 0.4% decrease, while the S&P 500 and Nasdaq saw marginal gains of 0.16% and 0.10%, respectively. This cautious trading reflects the broader sentiment in the market, with investors balancing optimism against the backdrop of electoral uncertainty.

In other news, Palantir Technologies, known for its advanced AI tools used by military and intelligence agencies, is set to release its earnings report after the closing bell. The company has gained prominence in the tech world’s ongoing AI surge, and investors will be closely monitoring the outcome. Additionally, the Federal Open Market Committee’s interest rate decision and the subsequent press conference featuring Fed Chair Jerome Powell on Thursday will be key events to watch.

Nvidia shares rose by over 1% on Monday as the AI chipmaker is set to join the Dow Jones Industrial Average, replacing longtime member Intel. This move highlights Nvidia’s growing influence in the tech and AI sectors and signals a shift towards AI-driven growth within the index. In response to the news, Intel shares fell by 4%, and the reshuffling is expected to take effect at the end of the week.

See also  1 Stock-Split Artificial Intelligence (AI) Stock to Buy Before It Soars 285%, According to Certain Wall Street Experts

On a different note, Warren Buffett’s Berkshire Hathaway continued to sell off significant stakes in various companies, increasing its cash reserves to a record $325.2 billion. In the third quarter, Berkshire sold $36.1 billion of stock, including holdings in Apple and Bank of America. This strategic move reflects Berkshire’s focus on managing its financial resources amidst market uncertainties.

For the latest updates and news, follow us on Facebook, Twitter, and Instagram.

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