NEW YORK, NY / ACCESSWIRE / December 18, 2018 / U.S. equities extended losses on Monday as investors await details from the Federal Reserve's final policy meeting of 2018 on Wednesday. The Dow Jones Industrial Average declined 2.11 percent to close at 23,592.98, while the S&P 500 Index fell 2.08 percent to close at 2,545.94. The Nasdaq Composite Index plunged 2.27 percent to close at 6,753.73.
The SEIA’s Director of Trading Operations, Vincent Reyes said that “the market feels like the Fed has to hike Wednesday,” to keep its image of independence despite request from the president to cease increase in rates. “But the logic for hiking is weak,” he added.
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Alphabet's stock moved 2.45% lower Monday, to close the day at $1,016.53. The stock recorded a trading volume of 2,385,364 shares, which was above its three months average volume of 1,839,931 shares. In the last year, Alphabet's shares have traded in a range of 980.64 - 1,273.89. The share price has gained 3.66% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $1,057.07 is below its 200-day moving average of $1,142.48. Shares of the company are trading at a Price to Earnings ratio of 38.15. Shares of Alphabet have fallen roughly 4.24 percent in the past month and are down 2.85 percent year-to-date.
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On Monday, shares of Facebook recorded a trading volume of 24,333,959 shares, which was below the three months average volume of 25,266,076 shares. The stock ended the day 2.69% lower at $140.19. The share price has fallen 35.88% from its 52 week high with a 52 week trading range of 126.85 - 218.62. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $142.03 is below its 200-day moving average of $170.02. Shares of the company are trading at a Price to Earnings ratio of 21.13. Shares of Facebook have gained roughly 0.47 percent in the past month and are down 20.55 percent year-to-date.
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