In Worst Christmas Eve Trading Day Ever, Market Down 600 Points

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The Dow Jones closed down more than 600 points Monday, marking the worst Christmas Eve in its history.

The S&P 500 entered bear market territory and the Dow Jones Industrial Average dipped below 22,000 Monday as trading saw the worst Christmas Eve in history.

Via CNBC:

The Dow Jones Industrial Average dropped by 601 points Monday in volatile trading, falling below 22,000 in the worst day of Christmas Eve trading ever. The Dow sank more than 2 percent, then recovered nearly all of the day’s losses, before again falling more than 2 percent. The S&P 500 fell 1.8 percent and Nasdaq Composite Index slid 1.2 percent. The next worst Christmas Eve for the Dow and S&P 500 was in 1985, when both indexes fell a little over 0.6 percent.

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Both the Dow and the S&P 500 are now in the red for 2018 by more than 10 percent. Some traders have suggested that the market has gotten to the point where a short-term bounce could occur, if only for technical reasons. Seasonally, this is usually a positive, or at least benign, time for the markets.

The NYSE closes early on Monday at 1 p.m. ET. The exchange is closed on Tuesday for Christmas day. Wednesday through Friday are normal trading days.

Read the full report.

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