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Category: CRYPTO NEWS
The post Dow Jones Industrial Average slides as markets digest mixed economic data and Fed remarks appeared on BitcoinEthereumNews.com. Dow Jones drops over 1.40% to 43,980 as investor sentiment weakens. The US Dollar Index retreats below 106.90 after Trump hints at a potential trade deal with China. US Initial Jobless Claims miss estimates, raising concerns about labor market resilience. St. Louis Fed warns of inflation risks, while Atlanta Fed’s Bostic sees room for two rate cuts this year. The Dow Jones Industrial Average (DJIA), which measures the performance of 30 large-cap US stocks, fell sharply on Thursday, dropping more than 1.40% to 43,980. Investors reacted to mixed economic data and cautious remarks from Federal Reserve (Fed) officials. The labor market showed signs of weakness, while the possibility of a United States (US)-China trade deal helped ease concerns over upcoming tariffs. Daily digest market movers: Dow Jones tumbles as economic concerns grow The Dow extended losses as market participants digested weaker-than-expected weekly jobless claims. Initial Jobless Claims rose to 219,000, exceeding estimates of 215,000 and higher than the previous 214,000. Continuing Jobless Claims climbed to 1.869 million, surpassing forecasts and the previous 1.845 million. The Philadelphia Fed Manufacturing Survey printed at 18.1, below expectations of 20 and January’s 44.3. US President Donald Trump hinted at a potential trade deal with China, easing concerns over April’s tariff hikes. The US Dollar Index (DXY) fell below 106.90 following Trump’s comments, signaling reduced demand for safe-haven assets. St. Louis Fed President Alberto Musalem warned of rising inflation expectations and the risk of stagflation. Atlanta Fed President Raphael Bostic reiterated that two rate cuts remain possible this year, depending on economic conditions. The Dow remains under selling pressure, struggling to regain key technical levels after breaking below 44,000. Technical Analysis The Dow Jones Industrial Average has fallen below 44,000, accelerating downside momentum. The break below the 20-day SMA at 44,580 confirms a bearish trend,…
2025-02-20T19:45:10+00:00
https://bitcoinethereumnews.com/finance/dow-jones-industrial-average-slides-as-markets-digest-mixed-economic-data-and-fed-remarks/?utm_source=rss&utm_medium=rss&utm_campaign=dow-jones-industrial-average-slides-as-markets-digest-mixed-economic-data-and-fed-remarks