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Inflation (Economics)

Stock Market Plunge Continues: Dow Jones, S&P 500, and Nasdaqcomposite Hit New Correction Lows

Strategic Insights

— 2 min read

The Dow Jones Industrial Average, S&P 500, and Nasdaq composite hit new correction lows on Monday, with the Dow Jones plummeting 2.8% and the S&P 500 tumbling 3.9%. The Nasdaq composite fell 4.7% as the stock market continued its downward trend. Oracle reported earnings after the close Monday, with its shares jumping 12% in extended trade. However, Tesla stock skidded more than 7% Monday, with Apple shares selling off 3.8% and trading 4.2% lower in the last session. As the stock market correction worsens, investors should be cautious and prepare for a potential rally attempt.

Key Takeaways:

  • The Dow Jones Industrial Average dived 2.8% on Monday, while the S&P 500 moved down 3.9% and the Nasdaq composite tumbled 4.7%.
  • Oracle reported earnings after the close Monday, with its shares jumping 12% in extended trade.
  • Tesla stock skidded more than 7% Monday, with Apple shares selling off 3.8% and trading 4.2% lower in the last session.
  • Investors should be cautious and prepare for a potential rally attempt, as the stock market continues its downward trend.
  • Dow Jones leaders Chevron, Merck, and Travelers are among the top stocks to watch for Tuesday, according to IBD.
  • Carlisle, HealthEquity, Northrop Grumman, and World Wrestling Entertainment are also among the stocks to watch.
  • The IBD Composite Rating is a useful tool for gauging the quality of a stock's fundamental and technical metrics.
  • The S&P 500 and Dow Jones Industrial Average hit new correction lows on Monday, while the S&P 500 tumbled 4.7%.
  • Investors should pay attention to the weak market environment and be mostly on the sidelines.
  • The IBD StockScreeners allow investors to create watchlists, find companies nearing a breakout, or develop custom screens.

Statistics:

  • The Dow Jones Industrial Average plummeted 2.8% on Monday.
  • The S&P 500 tumbled 3.9% on Monday.
  • The Nasdaq composite fell 4.7% on Monday.
  • Tesla stock skidded 7.1% on Monday.
  • Apple shares sold off 3.8% on Monday.
  • Oracle shares jumped 12% in extended trade after reporting earnings.
  • The producer price index is expected to rise 0.8% in May and 11% year-over-year.
  • The 10-year Treasury yield surged to 3.36% on Monday, its highest level since April 2011.
  • West Texas Intermediate oil prices traded around $121 a barrel on Monday.

Sources:

  • Dow Jones Market Data
  • IBD (Investors Business Daily)
  • Oracle (ORCL)
  • Tesla (TSLA)
  • Apple (AAPL)
  • Microsoft (MSFT)
  • Chevron (CVX)
  • Merck (MRK)
  • Travelers (TRV)
  • Carlisle (CSL)
  • HealthEquity (HQY)
  • Northrop Grumman (NOC)
  • World Wrestling Entertainment (WWE)

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