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Down on the US stock exchange – historic losing streak

The American stock exchanges fell unanimously on Tuesday. The Dow Jones' nine-day losing streak is the longest in 45 years.

» Published: 17 December 2024

Down on the US stock exchange – historic losing streak
Photo: Julia Demaree Nikhinson/AP/TT

The Dow Jones industrial index stood at minus 0.6 percent at the close, the broad S&P 500 index at minus 0.4 percent, and the technology-heavy Nasdaq composite index fell 0.3 percent.

For the Dow Jones, the recent record highs have turned into a streak of nine consecutive trading days with red figures, the longest since 1978, according to CNBC.

Health insurance companies, including Humana (minus 9.5 percent) and United Health (minus 3.3 percent), were among the big losers after promises from President-elect Donald Trump to cut out intermediaries in health insurance.

Pharmacy chain CVS also fell heavily, down 5 percent. Chipmaker Broadcom, which rose two-digit on Monday, fell back and stood at minus 4.5 percent at the close.

The hardest hit was service entrepreneur Amentum Holdings, which closed at minus 10.2 percent. This came after the company management warned that next year's growth would be affected by the incoming government's expected cuts in government spending.

Among the winners were media company Fox Corp and pharmaceutical company Pfizer, both closing at plus 4.3, closely followed by electric car manufacturer Tesla, up 4 percent after raised target prices.

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By TTThis article has been altered and translated by Sweden Herald

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