The second oldest stock market index in the United States known as the Dow Jones Industrial Average, abbreviated as DJIA, deals with stocks and trades of as many as 30 big, publicly held companies in the country. Founded by the editor of the Wall Street Journal, Charles Dow along with Edward Jones, who was a statistician, the 103-year-old index, the Dow’s longest ever losing streak lasted as many as 14 days, back in 1941.
This time, if the streak continuous till Friday, this would be the Dow’s 11th losing streak that lasted as many as 9 days. The last time this happened was some 40 years ago, in 1978, when the index dropped by 4.3% over the period of 9 odd days, and the index traded at less than 750 at that time.
However this time, the Dow, which is a blue-chip index, fell by 0.8% on last Thursday and dropped by overall 3.3% over the 8-day period, and it is at nearly 24,500 currently.
The Dow is scrambling again, since March 2017 when it faced another losing streak which was the Dow’s last longest losing streak before encountering this one. These losses are attributed to the growing tensions between the United States and some of the trade partners, particularly China. President Trump has been menacing huge tariffs against China, which is one of the factors, directly or indirectly, responsible for the trade-war that is affecting the DJIA.
Speaking of stock indexes, the others in the league have been witnessing mixed results, subjected to the ongoing trade tensions. While some of the indexes have done better in the past few days, S&P 500 has witnessed loss in four days out of the last five, owing to the market situation.
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