Dow briefly turns negative for 2018 as day's losses accelerate
The Dow Jones Industrial Average turned negative for the year on Thursday, as the day's losses accelerated in midday trading. At its low of the session, the blue-chip average fell 0.6%, or 166 points, a decline that erased the Dow's year-to-date gains. At its peak of the year, the Dow was up 7.7%. The S&P 500 remains up 1.5% for 2018 while the Nasdaq Composite Index is up 6.1%, supported by gains in large-capitalization technology stocks. All three indexes were lower on Tuesday, erasing an earlier rise as investors continued to debate the potential impact of a trade war in the wake of President Donald Trump announcing a pair of tariffs, a strategy that has received opposition from key Republicans like House Speaker Paul Ryan. The day's losses were widespread, with nine of the 11 primary S&P 500 sectors down on the day. Health-care stocks lost 0.5% while the utility sector fell 0.8%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.