AllPennyStocks.com Dow Dumps Nearly 400
AllPennyStocks.com

Dow Dumps Nearly 400

November 12,2024 04:29 pm EST

Dow Dumps Nearly 400

The S&P 500 pulled back on Tuesday, on pace to end a four-day run that saw stocks advance to record highs after the U.S. presidential election.

The Dow Jones Industrial index weakened 382.15 points to 43,910.98.

The much broader index dipped 17.36 points to 5,983.99.

The NASDAQ slid 44.99 points to 19,253.77.

Shares of Tesla, which have advanced 31% since Election Day, sank roughly 5%, while Trump Media & Technology Group fell 7%. The stock is down 9% since Trump's victory.

Tuesday's action comes a day after the Dow closed above 44,000 for the first time. The S&P 500 also had its first close above 6,000. The trading has reflected investor optimism that Donald Trump's return to the White House could bring both lower taxes and looser regulations, and ultimately serve as a boon to the broader market.

The bond market reopened after Veterans Day, prices fell, driving yields up 4.43% from Friday's 4.31%. Treasury prices and yields move in opposite directions.

Oil prices docked two cents to $68.02 U.S. a barrel.

Prices for gold dipped $10.80 an ounce to $2,606.90 U.S.

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