Stock Market Report: Dow Jones Falls by Over 260 Points
Wall Street has not seen a day this bad in nearly two months. The Dow Jones fell over 260 points and Apple fell almost 4 percent on a day that kept many investors home for the Jewish holiday Rosh Hashanah.
Only 737 million shares were exchanged on the New York Stock Exchange and all 30 of the Dow Jones stocks traded lower most of the day.
The NASDAQ's loss of almost 2 percent was fueled mostly by Apple's big decline Thursday. Apple is suffering from complaints due to problems with its new operating system iOS 8. Apple shares closed the day down 3.81 percent at $97.87 after closing at $102.64 Wednesday. Earlier this month (Sept. 2) Apple saw its 52-week high of $103.74. If the company does not find a way to fix its software issues the stock could continue to fall.
The CBOE Volatility Index rose by 17.9 percent to 15.64. This index, also called the VIXX is a sign of investor uncertainity and when it rises investors have less trust and certainty in the markets.
Blackberry (BBRY) fell almost 7 percent to $9.80 Thursday despite announcing a new model of their business-driven smartphone called the Passport. In the past three days Blackberry is down 9.51 percent.
GOPRO (GPRO) climbed almost 4 percent Thursday after the wearable camera-maker was rumored to launch a new version of its action camera this holiday season.
Friday brings a GDP revision in the morning as well as the ratings on consumer sentiment. We will see how consumers feel about the economy Friday morning.
How is your confidence in the markets these days and what is your favorite stock? Do you think stocks will continue to fall or did they just take an off day Thursday? Leave us a comment below and let us know what you think.
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