NASDAQ Suffers Largest Decline of 2019

NASDAQ Suffers Largest Decline of 2019

Adviser Investments Chief Investment Officer Jim Lowell has the market analysis for Monday, May 13. The Dow Jones Industrial Average and S&P 500 saw their worst trading day since early January, and the NASDAQ had its largest one-day decline of 2019. The Dow Jones and S&P both fell 2.4% while the NASDAQ Composite plunged 3.4%. This sharp market downturn was primarily the result of China’s announcement of retaliatory tariffs coming June 1 on $60 billion of U.S. goods. Oil prices also spiked in response to an apparent terrorist attack on Aramco’s East-West Persian Gulf pipeline: Brent crude rose 1.3% in intraday trading before closing the day down 0.6%.

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