Dow falls over 1,800 points as U.S. stocks plunge
The Dow dropped 3.4%, more than 1,800 points, while the S&P 500 and Nasdaq fell 4.3% and 5.5%, respectively, in a broad market sell‑off.
Key points
- Dow fell 3.4%, over 1,800 points
- S&P 500 fell 4.3% and Nasdaq dropped 5.5%
- SOXL fell 19.29% to $61.34, heavy volume $6.7B
- SOXL trading below multiple moving averages
- Nasdaq‑100 lost $2.3 trillion in market value
On Thursday, U.S. equities experienced a broad sell‑off. The Dow Jones Industrial Average (^DJI) tumbled 3.4%, or more than 1,800 points.
The S&P 500 (^GSPC) fell 4.3% and the Nasdaq Composite (^IXIC) dropped 5.5%, pushing the tech‑heavy index into correction territory.
The Nasdaq‑100 (^NDX) fell 6.3%, erasing $2.3 trillion in market value, while the PHLX Semiconductor index (^SOX) plummeted 12% as chip makers such as Nvidia and Micron sank.
SOXL Decline
Direxion Semiconductor Bull 3X Tokenized ETF (SOXL) dropped 19.29% over the latest 24‑hour period, finishing at $61.34 after trading as high as $79.29 and as low as $59.73.
Volume was heavy at $6,709,505,184, and the ETF sat near the lower Bollinger Band at $61.65, with a daily RSI of 29.51.
Technical indicators showed SOXL trading below its 7‑day, 20‑day, and 50‑day simple moving averages, as well as its 12‑day and 26‑day exponential moving averages, suggesting the move is part of a larger downtrend.
Your questions, answered
How much did the Dow drop on Thursday?
The Dow fell 3.4%, or more than 1,800 points.
What was the performance of SOXL?
SOXL dropped 19.29% to $61.34, trading below several moving averages.
How does this story make you feel?
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