Dow Jones Witnesses Steep Loss

Published: Wilson Clark

On: Feb 2018

The blue chip Dow Jones Industrial Average has faced a steepest decline in value since June 2016 due to losses in US markets.

The fall is blamed on the negative earning reports from giant comlanies like Apple. Plus, rise in wages is signalling the possibility of higer rate of interest

Strong wage growth in the latest payrolls data also spooked investors raising the possibility of higher interest rates than expected.

The Dow fell over 665 points to 25,520.96.

Even S&P 500 fell by 59.8 points to 2,762.13, Nasdaq went down 144.91. These losses affected each sector, especially energy and technology stocks. Chevron and Exxon also witnessed fall.