US stocks down, Dow Jones below 29K pts for the first time ‎since 2020‎

US stocks ended the last trading in September in the red zone, to incur weekly, monthly and quarterly losses.

At the end of the session, the Dow Jones index fell by about 1.71%, or about 500 points, to 28,725 points, which is the first time that the index closed below the levels of 29 thousand points since November 2020.

The S&P500 also decreased by 1.5%, at 3,585 points, while the Nasdaq index fell by 1.5%, to record 10,575 points.

On a weekly basis, the Dow Jones index fell by 2.9%, recording the worst monthly performance since March 2020, down more than 7%, and also fell by more than 5% on a quarterly basis.

The index recorded quarterly losses for the third consecutive quarter, for the first time since 2015.

As for the S&P 500 index, it declined by 2.9% on a weekly basis, while it fell by more than 7% during the current month, while it recorded quarterly losses for the third consecutive quarter for the first time since 2009.

While the Nasdaq index incurred a weekly loss of about 2.7%, while it declined by about 9.1% during September in the largest monthly loss since April, and it also declined by 2.7% on the basis of the third quarter.

Political Tensions

Today, Russian President Vladimir Putin signed the annexation of four Ukrainian regions, which led to further escalation

The United States announced new economic sanctions targeting hundreds of people and institutions in Ukraine.

Nike stock is recording its worst daily performance since 2001

It should be noted that Nike’s stock declined by 12.8% at the close of the session, the largest daily decline since 2001.

Coinciding with the stock’s decline, the company disclosed its quarterly results for the first fiscal quarter, and despite recording an increase in revenues, it warned of crises at the level of stocks.

The S&P500 rose 1.5% to 3,585 points, while the Nasdaq index fell 1.5%, to record 10,575 points.