May 04, 2023  SEONews
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Dow Jones Today: Index Goes Negative For Year on Banking Fears – Investopedia

The Dow dove into negative territory for the year, tumbling nearly 300 points, or 0.86%, as regional bank stocks sunk lower and markets calibrated to yesterday’s discouraging comments from Fed Chair Jerome Powell. It’s the second consecutive day the Dow has dropped more than 250 points.

Key Takeaways

  • The Dow flirted with going into negative territory after dropping almost 300 points as banking fears continued to push stocks lower.
  • Disney led losses after its rival Paramount reported weak advertising and the transition to streaming hurt earnings, a possible portent for Disney, which reports earnings next week.
  • Intel was one of the Dow’s only winners after the company’s CEO scooped up a quarter of a million dollars of company stock.

Walt Disney (DIS), already vulnerable to the Hollywood writers strike, was the biggest loser, falling more than 3% after rival Paramount (PARA) reported disappointing earnings. Paramount ended the day down more than 28%.

Regional bank stocks continued…

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source: https://news.oneseocompany.com/2023/05/04/dow-jones-today-index-goes-negative-for-year-on-banking-fears-investopedia_2023050444463.html

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