Stocks experience significant dip, with the Dow dropping nearly 700 points as year-end trading approaches
The S&P 500 dropped by 1.6%, with the Nasdaq experiencing the most significant decrease of 1.8%, as traders offloaded Big Tech investments like Amazon, Alphabet, and Tesla.
Boeing's shares suffered significant losses on Monday, partly due to the tragic Jeju Air crash. This event led South Korea to conduct an inspection of all its 737-800 aircraft, the Boeing model involved in the accident. Consequently, Boeing's stock plummeted by more than 3%.
Furthermore, Bitcoin's impressive end-of-the-year surge continued to slow down on Monday, trading at $92,000. The cryptocurrency had reached $106,000 earlier this month, fueled by expectations that the upcoming administration would promote more favorable crypto policies.
This situation is still evolving and will be updated.
Investors might be cautious about other business sectors after seeing the large-scale sell-offs in Big Tech stocks, such as Amazon, Alphabet, and Tesla. Regardless of market volatility, investing in a diversified mix of businesses can help mitigate potential losses.
