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: December 17 2024

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

Share this article

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.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Wall Street Declines After July Inflation Data Released
1 MIN READ

Wall Street Declines After July Inflation Data Released

The Job Market in Sweden is Cooling Down - Significant Differences Between Industries

The Job Market in Sweden is Cooling Down - Significant Differences Between Industries

US Inflation Steady at 2.6 Percent in July
1 MIN READ

US Inflation Steady at 2.6 Percent in July

Extended Nuclear Shutdown Raises Electricity Prices in Southern Sweden
2 MIN READ

Extended Nuclear Shutdown Raises Electricity Prices in Southern Sweden

Price Pressure Reduces Alibaba's Second Quarter Profit
1 MIN READ

Price Pressure Reduces Alibaba's Second Quarter Profit

Ikano Bank Reports Loss Amid 670 Million Kronor Credit Losses
1 MIN READ

Ikano Bank Reports Loss Amid 670 Million Kronor Credit Losses

Norway and US Senator Clash Over Oil Fund's Caterpillar Divestment
1 MIN READ

Norway and US Senator Clash Over Oil Fund's Caterpillar Divestment

Tesla Denied New Charging Stations Amid Swedish Union Strikes
1 MIN READ

Tesla Denied New Charging Stations Amid Swedish Union Strikes

Cook vs. Trump: Federal Reserve Board Dispute in Court Today
2 MIN READ

Cook vs. Trump: Federal Reserve Board Dispute in Court Today

Stockholm Stock Exchange Decline Continues Amid Market Trends
1 MIN READ

Stockholm Stock Exchange Decline Continues Amid Market Trends

Saab to Develop Unmanned Underwater Vehicle for FMV
1 MIN READ

Saab to Develop Unmanned Underwater Vehicle for FMV

Swedish Economy Shows Recovery with Revised GDP Growth
1 MIN READ

Swedish Economy Shows Recovery with Revised GDP Growth

Academedia CEO Unconcerned About Potential Social Democratic Government
2 MIN READ

Academedia CEO Unconcerned About Potential Social Democratic Government

US Ends Duty-Free Exemption for Small Package Imports
1 MIN READ

US Ends Duty-Free Exemption for Small Package Imports

Swedish Investors Shift Focus from Defense Stocks Amid Peace Talks
2 MIN READ

Swedish Investors Shift Focus from Defense Stocks Amid Peace Talks

Consumer Agency's Proposed Telemarketing Ban Could Cost Thousands of Jobs
2 MIN READ

Consumer Agency's Proposed Telemarketing Ban Could Cost Thousands of Jobs

Asian Stock Markets Mostly Rise in Early Friday Trading
1 MIN READ

Asian Stock Markets Mostly Rise in Early Friday Trading

US Stock Market Rises Despite Urban Outfitters' Sharp Decline
1 MIN READ

US Stock Market Rises Despite Urban Outfitters' Sharp Decline

Swedish Hemp Cultivation Doubles, Reaches Record Levels
1 MIN READ

Swedish Hemp Cultivation Doubles, Reaches Record Levels

Opposition Criticizes Swedish Government's 2026 Budget as Desperate Move
2 MIN READ

Opposition Criticizes Swedish Government's 2026 Budget as Desperate Move