Monday, December 24, 2018

Dow drops 653 points in worst Christmas Eve trading day ever

Both major stock indexes nosedived on Monday in the worst day of Christmas Eve trading ever following tweets from President Donald Trump criticizing the Federal Reserve, according to CNBC. The plummet followed a tumultuous few days in Washington, amid reports that Trump was discussing how to remove Federal Reserve Chairman Jerome Powell. The Dow Jones Industrial Average dropped 653 points, falling below 22,000, on Monday and the S&P 500 entered a bear market after tanking more than 20 percent from a previous high. A bear market occurs after a drop of 20 percent or more following a recent high, and…