Armageddon on S&P 500, jolts below April ’18 lows, Wall Street sours 1%

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December 18, 2018
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Armageddon on S&P 500, jolts below April ’18 lows, Wall Street sours 1%

On Monday, the 17th of December 2017, the Wall St. plunged by 1 percent, as the healthcare stocks had been muzzling in the muds, after a federal ruling stated that the Obamacare was unconstitutional, adding further repercussion to that unspeakable scandal of Johnson & Johnson, which led Wall St.’s Friday’s loss. Monday’s decline had signaled a cascade of upcoming strains, as leading market sectors had been swaying and investors are expecting further unnerving scenarios amid global growth concern. The latest glide had erased the Nasdaq Composite’s entire gains of this year, and the US market had been experiencing their worst December-performances in eighty years.

The Dow Jones Industrials closed Friday, December 14th market 10 percent below, which was its record weekend closing in December, and S&P 500 had already been known as surfing in the correction territory. A stack of health insurers and hospital operators took tumbles on the 17th of December, Monday, after a Federal Judge ruled that the Obamacare was unconstitutional, as the S&P healthcare indexes lost 1.53 percent. None the less, all of the eleven major sectors of S&P were lowered on Monday, December 17th, while the real estate stocks experienced the lowest declines and the health care stocks nailed the ruin. A chief market economist at Spartan Capital Securities, Peter Cardillo, said, “We took a big hit on Friday, and what we’re seeing now is an uncertain market”.

Source: https://www.financial-world.org/news/news/investment/469/armageddon-on-sampp-500-jolts-below-april-18-lows-wall-street-sours-1/