A head-spinning, jaw-dropping 10 days in the markets

The past two weeks on Wall Street have been epic.In the last 10 trading days, the Dow fell more than ...

Posted: Dec 30, 2018 1:51 PM
Updated: Dec 30, 2018 1:51 PM

The past two weeks on Wall Street have been epic.

In the last 10 trading days, the Dow fell more than 350 points six times. There was also one day when the Dow rose by 1,000 points — the biggest point gain ever.

Asia

Banking, finance and investments

Bear market

Business, economy and trade

China

Continents and regions

Donald Trump

East Asia

Economic indicators

Economy and economic indicators

Financial markets and investing

Government and public administration

Government bodies and offices

Government organizations - US

Political Figures - US

Politics

Securities trading

Stock indexes

Stock markets

The Fed

US federal departments and agencies

US federal government

US government independent agencies

Wall Street

White House

The market is in an historic period of volatility. The S&P 500 was up or down more than 1% nine times in December and 64 times this year. In all of 2017, that happened only eight times. Here's the play by play of the last 10 days.

Friday, December 14: China fears

China says it will cut tariffs on imports of American-made cars in a concession to the Trump administration to de-escalate the trade war. President Donald Trump hints at a breakthrough in trade negotiations. Yet Wall Street is unfazed. The Dow falls 497 points because investors focused on warning signs about China's massive — and slowing — economy. Bannockburn Global Forex announces China's retail sales decelerated to their weakest pace in 15 years and its industrial production was the slowest since 2002.

Monday, December 17: Trump's scare tactics

Small stocks that make up the Russell 2000 fall into a bear market — the first major US index to tumble 20% from its peak. The Dow falls 508 points as President Trump worries Wall Street that he will interfere with the Federal Reserve's independence. He tweets, "it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!" Stocks are now having their worst December since the Great Depression.

Tuesday, December 18: Wild swings

The Dow closes 82 points higher, but stocks trade in a 412-point range as investors try to gauge what the Federal Reserve will announce at the end of its two-day meeting Wednesday.

Wednesday, December 19: Fed panic on Wall Street

Stocks trade up and down in a wild session. The Dow rises as much as 382 points after the Federal Reserve hikes rates — but then proceeds to tumble 352 points to the lowest level of the year. Investors worry that the Fed signals a more aggressive stance than Wall Street had hoped for. The Fed lowers its economic growth forecast for 2019 while still signaling that it will continue to raise rates — albeit at a slower pace.

Thursday, December 20: Volatility spikes

The Dow falls 464 points, closing below 23,000 for the first time since October 2017. The VIX volatility index climbs to the highest level since February.

Friday, December 21: Nasdaq in bear territory

It's a lousy end to a lousy five days. The Dow closes 414 points, or 1.8%, lower — ending its worst week since 2008. The Nasdaq plummets 3%, closing in its first bear market since the Great Recession. "Great Recession" ..." and "bear market" aren't words investors like to hear. Tech stocks are hit hard, because investors worry about the future of trade between the United States and China, and generally because high-priced stocks get harder to hold when things get scary. Facebook (FB) fell 6%. The news around the world is gloomy, too: Stock markets in China, Italy, Germany, Japan and South Korea are in bear markets.

Monday, December 24: Dreadful Christmas Eve

Treasury Secretary Steven Mnuchin invokes memories of the 2008 crisis by releasing a statement on Sunday: Investors should rest assured. He spoke to CEOs of the biggest banks, who have their fingers on trillions of dollars, and they said "markets continue to function properly." It's a bizarre statement because people weren't really thinking they weren't functioning properly. Mnuchin also says President Trump doesn't really intend to fire the Federal Reserve chairman. That's helpful, but Trump then attacks the Fed again for not having the right "touch" to manage the economy. The Dow loses 653 points, and most of the losses follow Trump's tweet. The Dow and S&P 500 suffer their biggest Christmas Eve declines ever.

Wednesday, December 26: Miraculous comeback

On the day after Christmas, there's not a lot of news to drive markets. President Trump is in Iraq to visit service members. There are no major economic data points for investors to chew on. So the Dow has its biggest day ever, rising a stunning 1,086 points — a 5% rise. The S&P 500 also soars 5%. The Nasdaq hurtles 5.8%, pulling out of bear market territory. All but one of 505 stocks in the S&P 500 end the day higher.

Thursday, December 27: Yesterday didn't happen

The Dow falls as much as 611 points before roaring back at the close. It ends 260 points higher to cap off another volatile day on Wall Street. The swing of nearly 900 points is one of the biggest trading ranges of the year.

Friday, December 28: Up, down, up, down

The last Friday of the year is a lot like many trading days in 2018: Stocks move higher and lower throughout the day. By the end, the Dow falls 76 points. The S&P 500 is barely lower, the Nasdaq barely higher. All things considered, it's a quiet day. One more day of trading in 2018. See you on Monday.

Terre Haute
Broken Clouds
74° wxIcon
Hi: 76° Lo: 51°
Feels Like: 74°
Robinson
Clear
71° wxIcon
Hi: 72° Lo: 50°
Feels Like: 71°
Indianapolis
Broken Clouds
75° wxIcon
Hi: 75° Lo: 53°
Feels Like: 75°
Rockville
Broken Clouds
69° wxIcon
Hi: 77° Lo: 50°
Feels Like: 69°
Casey
Few Clouds
73° wxIcon
Hi: 74° Lo: 51°
Feels Like: 73°
Brazil
Broken Clouds
74° wxIcon
Hi: 74° Lo: 50°
Feels Like: 74°
Marshall
Broken Clouds
74° wxIcon
Hi: 75° Lo: 50°
Feels Like: 74°
Clear & Cool
WTHI Planner
WTHI Temps
WTHI Radar

WTHI Events

 

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Confirmed Cases: 184522

Reported Deaths: 7723
CountyConfirmedDeaths
Cook1072474897
Lake12089440
DuPage11558510
Kane9239298
Will8650339
Winnebago3688125
St. Clair3655156
McHenry2961114
Madison222273
Kankakee168668
Rock Island160531
Champaign154719
Unassigned1347197
Peoria134135
Kendall129123
Sangamon103733
DeKalb85029
Boone73523
Jackson65019
McLean57215
LaSalle56020
Macon48923
Adams4454
Randolph4357
Coles40119
Tazewell3888
Ogle3775
Clinton34917
Williamson3415
Stephenson3186
Whiteside31316
Union30321
Grundy2825
Monroe27813
Knox2621
Iroquois2497
Vermilion2152
Henry2071
Morgan2035
Cass20211
Jefferson19217
Warren1830
Lee1482
Montgomery1477
Bureau1442
Marion1380
Macoupin1373
Franklin1320
McDonough12815
Perry1261
Effingham1161
Christian1154
Jo Daviess1131
Saline1131
Douglas1022
Woodford983
Livingston922
Pulaski910
Logan860
Jersey701
Mercer700
Clark680
Shelby601
Fayette583
Washington580
White580
Bond572
Johnson570
Moultrie550
Jasper537
Wayne501
Menard480
Piatt480
Cumberland472
Carroll463
Gallatin450
Lawrence420
Mason420
Ford411
Alexander360
Hancock341
Massac340
Wabash320
De Witt300
Crawford290
Edgar260
Fulton260
Hamilton230
Marshall210
Greene200
Hardin170
Schuyler170
Clay140
Brown130
Edwards130
Pike130
Richland130
Scott110
Henderson90
Pope80
Putnam80
Calhoun70
Stark70
Out of IL00

Indiana Coronavirus Cases

(Widget updates once daily at 8 p.m. ET)

Confirmed Cases: 68433

Reported Deaths: 2980
CountyConfirmedDeaths
Marion14863719
Lake7101271
Elkhart459777
Allen3635158
St. Joseph315479
Hamilton2513104
Cass17519
Hendricks1750105
Vanderburgh172612
Johnson1652118
Porter119539
Tippecanoe110311
Clark108145
Madison84765
LaPorte83829
Kosciusko81912
Howard81065
Bartholomew74347
Marshall74222
Floyd69444
Monroe68630
Delaware63852
Noble63728
Boone63546
Dubois62612
Hancock62337
Jackson5524
LaGrange54210
Warrick51630
Shelby51126
Grant49629
Vigo47410
Dearborn46528
Morgan42532
Henry36118
Clinton3573
White34710
Montgomery34321
Lawrence32827
Wayne3179
Decatur31432
Harrison29422
Miami2582
Scott25010
Daviess24619
Greene23934
Franklin22410
DeKalb2224
Putnam2228
Jennings21012
Jasper2082
Gibson2004
Steuben2003
Ripley1887
Perry17212
Starke1657
Orange16424
Wabash1613
Posey1580
Fayette1557
Jefferson1492
Whitley1486
Fulton1462
Carroll1452
Wells1342
Knox1310
Huntington1183
Washington1161
Spencer1143
Newton11010
Tipton1075
Randolph1034
Clay975
Jay820
Adams812
Rush794
Owen781
Sullivan761
Pulaski721
Brown701
Fountain632
Benton600
Blackford532
Ohio514
Pike460
Parke451
Switzerland430
Crawford420
Martin420
Vermillion380
Union320
Warren191
Unassigned0200