Markets Right Now: US stocks open lower as sellers return | iNFOnews | Thompson-Okanagan's News Source

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Markets Right Now: US stocks open lower as sellers return

December 27, 2018 - 6:38 AM

NEW YORK - The latest on developments in financial markets (all times local):

9:35 a.m.

Wall Street's wild Christmas week goes on, with the Dow Jones Industrial Average slumping 300 points at the open Thursday, a day after notching its biggest-ever point gain.

Volatility has been the norm in December. The Dow has dropped 1 per cent or more in eight of the 17 trading sessions.

Even with Wednesday's big gains, the Dow, S&P 500 and Nasdaq are all down more than 10 per cent for the month.

The price of oil fell 1.8 per cent after posting its biggest increase in two years Wednesday. Shares of Chevron dropped 1.6 per cent.

Bank stocks fell along with Treasury yields. Bank of America, JPMorgan and Goldman Sachs slipped more than 1 per cent as the yield on the the 10-year Treasury fell to 2.76 per cent from 2.79 per cent.

News from © The Associated Press, 2018
The Associated Press

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