Dow Leads Market Lower as IBM Stock Plunges 33% Monthly on Anthropic AI Tool
The Dow Jones Industrial Average led U.S. markets lower today, falling 1.66% as broad risk-off sentiment swept through blue-chip stocks.
Quick overview
- The Dow Jones Industrial Average fell 1.66%, leading a broad-based selloff across U.S. markets.
- Major indices closed down over 1%, with significant declines in financial and consumer-linked stocks.
- The Dow broke below its 50-day moving average, indicating weakening momentum and potential further downside risk.
- High-growth and AI-linked stocks in the Nasdaq also faced pressure, reflecting fragile investor sentiment.
Live DOW Chart
The Dow Jones Industrial Average led U.S. markets lower today, falling 1.66% as broad risk-off sentiment swept through blue-chip stocks.
Broad-Based Selloff Grips Markets
The major U.S. stock indices closed down more than 1%, with the Dow Jones Industrial Average posting the steepest decline at -1.66%. The move was not driven by isolated weakness but reflected widespread selling across sectors.
Shares of International Business Machines Corporation plunged 13.13%, delivering a significant drag on the price-weighted Dow. Financial names also struggled, with American Express Company down 7.21% and Visa Inc. falling 4.57%.
Technical Picture: 1st Support Broken
Technically, the Dow broke below its 50-day simple moving average, which had been acting as near-term support. While the broader trend remains bullish, today’s breach signals weakening momentum. The next notable support zone sits near 48,000, where the 100-day moving average could offer stabilization.
IBM Chart Weekly – Breaking the 100 SMA
Nasdaq Highlights Growth Vulnerability
Meanwhile, the Nasdaq’s pullback reinforced continued fragility in high-growth and AI-linked stocks. With multiple large-cap names dropping more than 5%, volatility remains elevated and investor sentiment fragile.
Unless buying interest returns quickly, the market may remain exposed to further downside pressure in the sessions ahead.
📉 Closing Levels for Main U.S. Stock Indices
🔻 Dow Jones Industrial Average
- Closed at 48,804.06
- Down 121.91 points (-1.66%)
- Heaviest percentage decline among the three major indices
- Selling pressure concentrated in financials and consumer-linked names
- The drop reflects renewed risk aversion and broad-based weakness across blue chips
🔻 S&P 500
- Closed at 6,837.75
- Down 71.76 points (-1.04%)
- Losses were widespread across sectors, signaling broad participation in the pullback
- Growth and financial components weighed heavily on overall performance
- The index struggled to hold intraday support levels, suggesting fragile sentiment
🔻 NASDAQ Composite
- Closed at 22,627.27
- Down 258.80 points (-1.13%)
- Technology and high-beta names led declines
- AI-related and software stocks were notably weak
- The tech-heavy index underperformed early in the session before stabilizing slightly into the close
🚨 Notable Stocks Down More Than 5%
The selloff extended beyond the indices, with several high-profile names posting sharp declines:
- CrowdStrike Holdings, Inc.: -9.88%
- Snowflake Inc.: -8.66%
- American Express Company: -7.21%
- Shopify Inc.: -7.04%
- DoorDash, Inc.: -6.60%
- Chewy, Inc.: -6.56%
- Mastercard Incorporated: -5.72%
- Robinhood Markets, Inc.: -5.68%
- Strategy: -5.62%
- Cadence Design Systems, Inc.: -5.51%
- Intuit Inc.: -5.51%
- Fortinet, Inc.: -5.48%
- PNC Financial Services Group, Inc.: -5.23%
- Super Micro Computer, Inc.: -5.21%
- United Airlines Holdings, Inc.: -5.17%
- Macy’s, Inc.: -5.09%
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