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MarketWatch MarketPulseNov 12, 2018
Dow ends 600 points lower, logging worst day in 3 weeks, as tech stocks, Goldman get rocked
Stock benchmarks on Monday got hammered, amid a chorus of worries, including oil-price swings, worries and fears of weakening global growth. Those combined with a buoyant U.S. dollar to knock all three equity indexes sharply lower, with concerns about trade spats between the U.S. and China remaining on the forefront of investors' minds. The Dow finished 602 points, or 2.3%, lower at 25,387, the S&P 500 index closed off 2% at 2,726, while the Nasdaq Composite Index finished the session with steepest decline, down 2.8% at 7,201. All three benchmarks saw their worst day since Oct. 24, according to FactSet data. Shares of Apple were among the biggest sources of weakness in the broader market as the iPhone maker saw a series of reports questioning its production headed into the holidays. Shares of the Cupertino, Calif.-based tech giant ended the day down 5%. Meanwhile, shares of Goldman Sachs Group Inc. tumbled 7.5%, marking its worst daily loss since June 24 of 2016 and wiping 112 points from the Dow industrials. Elsewhere, the dollar, as measured by the ICE U.S. Dollar Index touched its highest level since June of 2017 and crude-oil reversed course and marked its 11th straight decline after President Donald Trump tweeted that prices of crude were still too high.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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