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Markets right now: Warehouse closes heavily on Wall Street



Updated


NEW YORK (AP) – The latest on developments in the financial markets (all times locally):

13:05


Shares lost Monday, with The Dow Jones Industrial Average falls 653 points after President Trump's tweet that attacks the Federal Reserve and its independence.

Dow Jones lost 2.9 percent and the benchmark S & P500 lost 2.7 percent after the president's tweet expressed frustration over the Fed's decision to raise its key card rate.

Nasdaq fell 2.2 percent. Bond prices rose. The return on the 10-year government bond fell to 2.74 percent.

The trading volume was low when the market closed early before the Christmas holiday closing.

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12:25

The Dow Jones Industrial Average fell short of more than 500 points after President Trump's tweet criticized Fed Chairman Jerome Powell.


President Donald Trump knocked out at the Federal Reserve Monday after the administration officials spent the weekend trying to insure the public and financial markets that Jerome Powell's job as the Fed chairman was sure.

The Dow fell 532 points to an intraday low of 21,912 before recovering slightly.

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12 pm

The shares are sharply lower at midday trading on Wall Street and prolonging market losses after their worst week of more than seven years.

The health and technology stocks took some of the most difficult losses on the broad day of sale Monday. Johnson & Johnson fell 4 percent. Microsoft drew 2.7 percent.

The trading volume was bright during a shortened trading session before the Christmas holiday.

Bank stocks are among the worst after the news of the Minister of Finance's discussions with the CEO of six major banks has accentuated investors' concerns.

S & P 500 is down 1.6 percent at 2,378 and the Dow Jones Industrial Average fell 1.7 percent to 22,062. Nasdaq Composite is down 0.9 percent at 6.275.

Bond prices rose. The return on the 10-year government bond fell to 2.77 percent.

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9:35

The shares are opened lower on Wall Street Monday because important US indices remain on course for their worst December since the 1930s. The bank stocks are among the worst after the news from the finance minister's talks with managers from six major banks has been accentuated by investors' concerns.

S & P 500 lowers 0.5 percent at 2,404 and the Dow Jones Industrial Average is down 0.6 percent at 22,304. Nasdaq Composite is down 0.3 percent at 6.309.


In half-day open-air action in Europe, France's CAC 40 is lower1.5 percent and Britain's FTSE 100 is 0.5 percent.

Bond prices rose. The return on the 10-year government bond fell to 2.77 percent.



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