Published on 6 May 2022 on Zacks via Yahoo Finance
Stock Market News for May 6, 2022
Wall Street routed on Thursday, erasing all gains of the previous day. Market participants remained highly concerned regarding a series of aggressive rate hike as signaled by the Fed. A large section of investors remained skeptical about the U.S. economic growth in 2022. These negatives significantly dented market participants’ confidence. All three major indexes plummeted.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) tumbled 3.1% or 1,063.09 points to close at 32,997.97. Notably, all components of the 30-stock index ended in negative territory. The blue-chip index has registered its worst single-day performance since Oct 28, 2020.