Market Watch: Wall Street Tumbles as S&P Loses Gains for the Year

An extremely volatile day on Wall Street saw markets suffer big losses as the S&P 500 gave back all of its gains for 2016 and the Dow Jones Industrial Average suffered triple digit losses.  The fact that the Japanese Yen continued its strength against the U.S. dollar increased worries about global growth and whether or not the Federal Reserve’s fiscal policy has been effective enough.

Dr. Quincy Krosby, market strategist at Prudential Financial told CNBC that she attributed much of the declines today to profit-taking in an overall risk-off environment ahead of earnings season.

“The currency markets are dominating overall market moves and anytime you see an important move in one currency or another from a currency market it seems to cause nervousness in equity markets”

According to Wall Street experts, two critical trends that have helped the stock market recently are coming to an end, posing significant challenges for investors.

See more below.

Here are the final numbers from Thursday, 4/7/16 on Wall Street:

Dow Jones Industrial Average: 17,541.96  (-174.09/ -.98 %)

NASDAQ: 4.848.37  (-72.35/ -1.47 %)

S&P 500: 2,041.91 (-24.75/ -1.20 %)

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella
- 22 hours ago
Phil Cannella
Phil Cannella

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