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Worst Week of the Year For the Dow Again

Worst Week of the Year For the Dow Again

April 16, 2024

The stock market took a hit as companies started reporting their first-quarter earnings. People are worried about prices going up too fast, and big banks didn't do as well as expected. This made investors nervous, especially when they saw a report saying that consumer prices went up more than expected. Although there was some good news about producer prices not going up as fast, it didn't make people feel much better. In fact, the S&P 500 had its worst day in a while.

For the week, the S&P 500 went down by 1.52%, the Dow by 2.36%, and a smaller companies index, the Russell 2000, by 2.91%. The Nasdaq, which focuses on tech companies, didn't fall as much, only by 0.45%. As for prices, things are still going up – the cost of everyday things rose by 0.4% in March, which is more than what experts expected.

In terms of different types of companies, all of them did worse last week. Banks, materials, and healthcare companies had the biggest drops, while tech, communication, and companies that sell non-essential things saw smaller decreases. So far this year, communication, energy, and tech companies have been doing the best.

The yields on government bonds and the value of the dollar went up, while the price of gold went up a bit and oil went down. This shows that the economy is pretty complicated and can change quickly.


The views stated here are not necessarily the opinion of Cetera Advisor Networks LLC and should not be construed directly or indirectly as an offer to buy or sell any securities mentioned herein. Due to volatility within the markets mentioned, opinions are subject to change without notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. Past performance does not guarantee future results.

Investors cannot invest directly in indexes. The performance of any index is not indicative of the performance of any investment and does not take into account the effects of inflation and the fees and expenses associated with investing.  

The Russell 2000 Index is a small-cap U.S. stock market index that makes up the smallest 2,000 stocks in the Russell 3000 Index. It was started by the Frank Russell Company in 1984. The index is maintained by FTSE Russell, a subsidiary of the London Stock Exchange Group.