Dow closes 530 points lower from this week's record high

Stocks end the day lower (^DJI, ^IXIC, ^GSPC), the Dow Jones Industrial Average falling off by over 530 points — or 1.29% — after reaching a record high on Wednesday.

Julie Hyman and Jared Blikre report on the day's market performance, eyeing the day's losses in the Russell 2000 (^RUT) small-cap index and movements in volatility for the bond and stock markets.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video Transcript

That's the closing bell on Wall Street, and now it's market domination.

Over time, we're joined by Jared to get you up to speed on the action from today's session.

First, let's talk briefly about where the major averages ended the day because we did have a tumble for all three major averages here, Um, ending the day lower after some mixed picture as of late, There you have them.

We cut the Dow down by 533 points, the S and be off about three quarters and NASDAQ down, 710.

Jared's got a closer look at the sector action right now.

That's right.

And you know, finally, the Dow and the NASDAQ are moving in the same direction.

Unfortunately, it's down.

You can see the Dow off.

As you said Julie.

500 points, plus also check in on the Russell 2000.

We were in the midst of a great stretch, but yesterday kind of trailed off at the end of the day.

Continued on into today or actually, yesterday was down quite a bit continued into today, and, uh, also taking a look at the Vick now, with the worst day for the NASDAQ in a in a couple of years.

Yesterday, we do see the Vicks a bit higher.

We can see it's been trending higher over the last few days.

It's up to 16, and that's not a That's not a high amount.

But you can see you can see it is the highest amount that we've had in a couple of months.

So that's definitely something we want to keep track of going forward.

We can also take a look at Bond Index volatility that's somewhat subdued.

That's called the Move index right here and then the 10 year T note yield.

Uh, we can see that's up about four basis points today, although the direction has been down for the most part over the last several months.

Finally, I also want to show that the US Dollar index was up today, but it has also been down over the last month or so.

Now let's get into some heat map action with the sectors we can see only energy XL E and the green finishing the day up 20 basis points, but it was health care that really took it on the chin, financials and consumer discretionary and materials also down by 1%.

And I wanted to check in on what's happening in the pharma sector.

Uh, wasn't able to find any big news.

Any headline, any catalyst except Eli Lilly.

Uh, we saw a bit of technical selling.

That's what I'm gonna call it kind of fell off, and then you can imagine a bunch of, uh, stops getting hit.

It ended the day precisely at its 50 day moving average not shown here.

So that's why I'm calling that technical selling.

But other than that, uh, pretty Red Day guys