The market's plunge won't let up and the biggest Dow Jones Industrial Average losers are the usual suspects during the coronavirus-induced bear market.
All three major indexes, after having fallen 11% in the morning, were hanging around a 9% loss by midday Monday. The Dow Jones was down more than 9% at that time.
The Federal Reserve brought its benchmark lending rate down to 0%, but the market is ignoring that, as lower rates can't alleviate fears of getting sick.
Here are the 5 biggest Dow losers:
Boeing and Travelers' stocks are getting hit hard, as global travel is grinding to a near halt. JPMorgan continues to be pressured by a flat yield curve. Home Depot is curiously a underperformer Monday, as lower interest rates -- especially since the Federal Reserve is buying mortgage bonds -- stimulate housing and some product demand. UnitedHealth may have to make costly payouts in light of the virus.
“The Fed will be unable to put much of a floor under the market, only Congress and the Executive Branch will be able to do that,” said Chris Zaccarelli, Chief Investment Officer for Independent Advisor Alliance in emailed remarks to reporters.
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