Wall Street is down today.
During Thursday afternoon trading all three major U.S. averages were in the red. The Dow Jones Industrial Average dropped 0.43%, the S&P 500 was declined 0.38%, and the Nasdaq sunk over 0.5%.
Here are a few reasons why the markets are dragging.
FANGShares of Facebook ( FB) , Amazon.com ( AMZN) , Netflix ( NFLX) and Alphabet ( GOOGL) were all in the red during afternoon trading on Thursday. Both Facebook and Amazon all closed nearly 1%, Alphabet closed over 1%, and Netflix was the biggest laggard, diving almost 1.2%.
GoldWith markets in the red across the board, gold prices rose on Thursday trading, up almost 0.24% to $1,286.80.
Dow TransportsThe Dow Jones Transportation Average (DJT) was fell over 1% on Thursday, also a bearish sign for the broader markets.
The DJT, a price-weighted average of 20 transportation stocks traded in the U.S., is studied to confirm the state of the U.S economy, especially by advocates of Dow Theory.
This theory says that as the industrials boost output and production, the transports should be shipping more of their products, confirming upward trends in both the DJT and the DJI.
A divergence from these correlating moves indicates a potential reversal of the trend and economic weakness.
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