- Wall Street Suffers Worst Christmas Eve Trading Day on Record
The Dow Jones Industrial Average plunged more than 650 points on Monday after Donald Trump renewed his attack on the Federal Reserve on Twitter. Meanwhile, the S&P 500 has suffered its worst December on record. The losses add to last week’s low performance, in what seems like the index’s worst week since the 2008 financial crisis.
The Dow Jones lost 2.9 percent and the benchmark S&P500 lost 2.7 percent after the president’s tweet expressing frustration over the Fed’s decision to raise its key short-term rate. The tech-heavy NASDAQ was also down, trading 3.8 percent lower.
Earlier on Monday Trump continued his regular attacks on the Federal Reserve. “The only problem our economy has is the Fed. They don’t have a feel for the Market,” Trump tweeted. “The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!”