Stock Market Sell-Off Worsens, Dow Jones Drops 433 Points

Strategic Insights -

The stock market sell-off continued into Monday, with the Dow Jones Industrial Average plummeting 433 points, or 1.2%. The S&P 500 dropped 1.1%, while the Nasdaq sold off 1.2%. The small-cap Russell 2000 tumbled 1.6%. Among the major tech stocks, Apple dropped 0.8% Monday, while Microsoft was down 1.2%. Nike, a Dow Jones retail leader, reported earnings after the close Monday, and its stock moved up around 4% in extended trade.

Key Takeaways:

  • The Dow Jones Industrial Average dropped 433 points, or 1.2%, on Monday, extending the week's losses.
  • The S&P 500 declined 1.1%, while the Nasdaq sold off 1.2%, with the Russell 2000 tumbling 1.6%.
  • Apple stock dropped 0.8% Monday, and Microsoft was down 1.2%, with both stocks battling for support around their 50-day lines.
  • Nike, a Dow Jones retail leader, reported earnings after the close Monday, with its stock moving up around 4% in extended trade.
  • Electric-vehicle leaders Li Auto, Xpeng Motors, Lucid Group, and Rivian posted sharp losses Monday, with Tesla stock declining 3.5% and closing at its lowest level since Oct. 21.
  • Chip giants Advanced Micro Devices and Nvidia closed below their respective 50-day moving averages following Monday's losses.
  • Home Depot stock is trying to find support at its 50-day moving average, despite recent losses, and remains the top Dow Jones performer in 2021, up 46.5% year-to-date.
  • Arista Networks is trying to break out past a 134.24 buy point, Ryan Specialty is trying to find support at its 124.99 buy point, and Advanced Micro Devices and Nvidia are trying to rebound from their 50-day moving averages.

Statistics:

  • Dow Jones Industrial Average dropped 433 points, or 1.2%, on Monday.
  • S&P 500 declined 1.1% on Monday.
  • Nasdaq sold off 1.2% on Monday.
  • Russell 2000 tumbled 1.6% on Monday.
  • Apple stock dropped 0.8% Monday.
  • Microsoft stock was down 1.2% Monday.
  • Nike stock moved up around 4% in extended trade after reporting earnings.
  • Tesla stock declined 3.5% and closed at its lowest level since Oct. 21.
  • Home Depot stock is up 46.5% year-to-date through Monday's close.

Sources:

  • Dow Jones Industrial Average:
  • S&P 500:
  • Nasdaq:
  • Russell 2000:
  • Apple stock:
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  • Nike stock:
  • Tesla stock:
  • Home Depot stock: