The Dow Jones Industrial Average dropped 400 points on Friday, closing a quiet holiday trading session down roughly 1%. Limited market participation and profit-taking ahead of the year-end contributed to the decline. Despite a strong 2024 performance, with the index climbing over 21% at its peak, December has turned negative, erasing November’s gains. Nvidia led losses, falling over 2% amid concerns about potential trade restrictions on AI chipsets to China.
The Dow is down nearly 5% from record highs and testing key support levels, trading below its 50-day EMA at 43,345 but holding above the 200-day EMA at 40,960. Thin data releases and another midweek holiday next week may keep volumes and volatility muted as the market awaits further clarity on Federal Reserve policy and its implications for 2025 rate cuts.
https://www.fxstreet.com/news/dow-jones-industrial-average-backslides-amid-tech-decline-202412271654


