Published on 27 Sep 2022 on Zacks via Yahoo Finance
Stock Market News for Sep 27, 2022
Wall Street continued its free fall for five straight days as market participants were rattled by the Fed’s rigorous interest rate hike decision. Investors’ confidence on risky assets like equities have dented significantly as a global financial crisis looms large. The threat of a near-term recession has unnerved market participants. All the three major stock indexes ended in negative territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) tumbled 1.1% or 329.60 points to close at 29,260.81. The blue-chip index posted its lowest closing since Nov 12, 2020 and has entered the bear market territory for the first time since Mar 11, 2020. Notably, 26 components of the 30-stock index ended in negative territory while 4 in green.