Dow Futures Tank 500 Pts Ahead Of Fed Meet As US Stock Indices FAANGM Turn Negative Month To Date
On Monday, the Dow Jones futures were trading 500 points down, predicting a turbulent start for US financial markets later today. The Dow Industrials P 500s, and NASDAQ all closed in the red on Friday, sending US stock futures tumbling. Losses are predicted ahead of the Federal Reserve's September meeting, which concludes this week on Wednesday. After beginning the month of September at 35,360, the Dow Jones Industrial Average finished the month at 35,631 — just shy of its all-time high established on August 16 of this year. On Friday, the NASDAQ Composite Index ended at 34,584, down 2.06 percent from the start of the month and 2.9 percent off its all-time high. The P 500 index was trading at 4,524 on September 1 and reached an all-time high of 4,545 the next day. The NASDAQ Composite began the month at 15,309 and reached an all-time high of 15,403 on September 7. Except for one, all of the FAANGM stocks have plummeted. Since the beginning of September, the price of Facebook's shares has fallen by 4.5 percent, with the last session ending at $364.72 per share. Google, the internet behemoth, has also been avoided by investors, with the stock price falling 3.04 percent. Microsoft, on the other hand, is down 0.65% for the month despite a significant increase the prior week. Netflix is the only FAAN GM stock that has made a profit so far this month. The US Federal Reserve will meet this week and may announce a decrease in its bond-purchasing programme. Jerome Powell has already suggested that tapering might begin this year. The FOMC's future remarks on the topic may influence the stock market's next move.