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The Dow Jones Industrial Average fell 816.80 points (-1.91%) to 41,860.44, closing below the 200-day moving average of 43,065 but still above the 50-day moving average of 41,211.4. The breach of long-term resistance highlights mounting pressure on industrial and financial names.
What caused the drop?
Surging long-term yields rattled equity markets. UnitedHealth fell 5.8% following a downgrade, while Nike, American Express, and 3M each lost more than 3%. Defensive names like Walmart and Microsoft saw modest gains.
What does the setup look like?
The Dow is now caught between its 200-day resistance and 50-day support. A close below 41,211.4 would confirm a deeper breakdown, with next support near 40,400.
What’s on deck?
Focus turns to inflation data and additional Treasury auctions. If yields remain elevated, the Dow’s cyclical components may stay under pressure through month-end.
More Information in our Economic Calendar.
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