Some thoughts on why the Dow is tumbling today:
12:01 p.m. The Dow Jones Industrial Average has seen its gains slip away as the major indexes remain stuck after their recent rallies.
The Dow has dropped 296.90 points, or 1.1%, to 25,729.42, while the S&P 500 has declined 0.9% to 2779.02, and the Nasdaq Composite has fallen 1% to 7,522.47. The Dow and the S&P 500 were up as much as 0.5% earlier this morning on reports that the U.S. and China were getting even closer to a deal to end the trade war between the two countries. Skepticism remains, both about the possibility of a deal getting made, and about the difference it will make for a global economy that is struggling to grow.
Maybe that’s why the S&P 500 is falling as we approach midday, or maybe its simply resistance near 2800. In fact, the S&P 500’s high of 2816.88 is right near the top the resistance range between 2800 and 2817. And that’s as good a reason to sell as any. Markets Now is a quick take on what’s happening with the Dow Jones Industrial Average and other major market indexes. Don’t forget to check out the rest of Barron’s markets coverage.
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