The Dow Jones Industrial Average on Tuesday suffered its longest losing streak since 1978, when Jimmy Carter was president, by closing with a loss for the ninth consecutive day.
The most significant market losses are largely confined to the Dow, which closed with a loss of 267 points or 0.6% on Tuesday. But the S&P 500 closed with a loss of about 0.39%, and the Nasdaq declined by approximately 0.32% on Tuesday, according to CNN.
The losing streak comes after the 2024 presidential election caused a surge in the markets when President-elect Donald Trump was elected back to the White House. The Dow is still closing at 16% higher than last year, and 3.5% higher than it was on Election Day.
A drop in UnitedHealth Group stocks amount to the most significant losses in the Dow. The company’s stock has lost 18% of its value so far this month, which was largely triggered by the fatal shooting of UnitedHealthcare CEO Brian Thompson on Dec. 4.
If the losing streak continues through at least Thursday, then it will be the first time there has been an 11-day slump in 50 years, according to FactSet data reported by CNN.
Misty Severi is an evening news reporter for Just The News. You can follow her on X for more coverage.
