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Dow’s Disastrous Week Gets Worse after Bloomberg & Clinton Concede to the Bernie Bros

Josiah Wilmoth
The Democratic party now belongs to Bernie Sanders and Alexandria Ocasio-Cortez. That could hurt the Dow and broader US stock market over the long-term. | Source: Brian Snyder/Reuters

The US stock market has had a week that bulls would love to forget, and the Dow Jones beating continued following Wednesday’s opening bell. Following the exit of Wall Street favorites Michael Bloomberg and Hillary Clinton from the 2020 US presidential race, that drubbing could get even worse in the months to come.

Dow Continues Slow Bleed

As of 1:15 pm ET, the Dow Jones Industrial Average had plunged by 162.54 points or 0.63 percent. The S&P 500 fell 0.7 percent, while the Nasdaq lost 0.9 percent as the stock market once again failed to recover from Monday’s bloodbath.

dow jones industrial average, dji, djia

The Dow Jones Industrial Average continues its three-day decline on Wednesday.

On Tuesday, the Dow lost 13.02 points or 0.05 percent to close at 25,806.63. The Nasdaq declined by 0.02 percent, while the S&P 500 fared worst among Wall Street’s major indices with a 0.11 percent pullback.

Those declines wouldn’t even be worth noting had it not been for what transpired just one trading session prior, when the Dow cratered by as much as 510 points before recovering to close at a loss of 206.67 points. Tuesday’s minor decline, coupled with this morning’s pre-bell futures slip has put the Dow on track for its second consecutive weekly loss following nine straight weeks of gains.

Read the full story on CCN.com.