August 10, 2017: The S&P 500 closed down 1.4% at 2,438.28. The DJIA closed down 0.9% at 21,849.62. Separately, the Nasdaq closed down over 2% at 6,216.87.
Thursday was probably the worst day of trading that the broad markets have seen all year with all major U.S. indices falling. This drop comes on the developing story between the U.S. and North Korea and speculation surrounding whether there will be war. Crude oil briefly touched $50 in the session but pulled back quickly to a sizeable loss on the day. Gold was fairly positive but this is common with international politics the way they are. As for the S&P 500, all of its sectors were negative on the day, with the exception of utilities.
Crude oil was last seen down about 2% at $48.52 after barely touching the $50 price level.
Gold was up 0.9% at $1,290.80.
The S&P 500 stock posting the largest daily percentage loss ahead of the close Thursday was Macy’s, Inc. (NYSE: M) which traded down over 10% at $20.60. The stock’s 52-week range is $20.55 to $45.41. Volume was over 38 million versus the daily average of 9.6 million shares.
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Thursday was Darden Restaurants, Inc. (NYSE: DRI) which rose 1.6% to $82.60. The stock’s 52-week range is $60.16 to $95.22. Volume was nearly 2 million compared to its average volume of 1.5 million.