Dow Jones Plunges 800 Points on Chip Slide, Rate Fears, and Iran Threat
The Dow Jones Industrial Average dropped 800 points, dragged lower by weakness in semiconductor stocks, rising rate-hike expectations, and President Trump's vow to strike Iran.
DJI
The Dow Jones Industrial Average extended losses to 800 points on the day as a mix of sector-specific weakness and macro risks hit equities.
Drivers of the selloff included:
- Chip stocks came under heavy selling pressure.
- Odds of further interest rate hikes increased.
- President Trump threatened military action against Iran.
Source: The Kobeissi Letter