Stock Market Plunges Over 700 Points Due to Weak Economic Data: Investor Confidence Drops

on into the company’s Medicare billing practices.

Across various sectors, the stock market saw a negative trend on Friday, particularly in information technology, consumer discretionary, and industrials. However, consumer staples managed to fare better than the rest, ending on a positive note.

The Dow Jones index closed the day with a significant decrease of 749 points, settling at 43,428.02 on Friday. The S&P 500 experienced a 1.71% decline, closing at 6,013.13, while the Nasdaq Composite also dropped by 2.20% to 19,524.01 during the same session.

Investors are keeping an eye out for the upcoming earnings reports from companies such as Owens Corning OC, Domino’s Pizza Inc. DPZ, and Westlake Corp. WLK.

The CNN Business Fear & Greed Index moved to the “Fear” zone with a reading of 35.4 on Friday, indicating a shift in market sentiment from the previous reading of 45.1.

This index serves as a barometer for the prevailing market sentiment, acknowledging that heightened fear can lead to decreased stock prices, while increased greed can have the opposite effect. Calculated based on seven equally weighted indicators, the index ranges from 0 to 100, with 0 representing maximum fear and 100 denoting maximum greed.

As market conditions and sentiment continue to fluctuate, it is crucial for investors to stay informed and up-to-date with the latest stock movements and developments. By staying abreast of the evolving market landscape, individuals can make more informed decisions regarding their investment strategies.

Stay tuned for further updates on the stock market trends and analysis to ensure that you are well-prepared for the week ahead. Remember to keep a close eye on key indicators, earnings reports, and market news to navigate the stock market effectively.