U.S. markets continued their five-day tumble Thursday, with the Dow Jones Industrial Average and S&P 500 both down.
The Dow Jones Industrial Average fell over 68 points, while the S&P 500 fell almost 8 points. Market strategists attribute the five-day slump to news that the economy was quickly improving, which means that the stimulus may end sooner than expected, CNBC reports. The financial sector is panicking at the prospect that the stimulus may be rolled back as soon as the January meeting.
The panic is having global effects as well. World market shares fell again Thursday after a three-day slump, and gold was the lowest it’s been in five months, Fox Business reports.
[CNBC]