October 24, 2018: The S&P 500 closed down 3.1% at 2,656.29. The DJIA closed down 2.4% at 24,584.50. Separately, the Nasdaq closed down 4.4% at 7,108.40.
Wednesday was another down day for the broad U.S. markets. The S&P 500 and Dow have officially turned negative in 2018, while the Nasdaq is holding on to a tiny gain for the year. Each of the averages lost more than 2%, with the Nasdaq taking the worst beating on the day. Crude oil more or less traded sideways in the session. The S&P 500 sectors were mostly negative. The most positive sectors were real estate and utilities up 1.5%, and 2.6%, respectively. The worst performing sectors were energy and technology down 3.3% and 3.6%, respectively.
Crude oil was last seen trading flat at $66.34.
Gold was last seen trading flat at $1,235.80.
The S&P 500 stock posting the largest daily percentage loss in the S&P 500 ahead of the close was Frontier Communications Corp. (NASDAQ: FTR) which fell by over 10% to $4.67. The stock’s 52-week range is $4.52 to $12.19. Volume was 3.8 million compared to the daily average volume of 3.2 million.
The S&P 500 stock posting the largest daily percentage gain ahead of the close was Varian Medical Systems, Inc. (NYSE: VAR) which traded up about 8% at $113.08. The stock’s 52-week range is $99.00 to $130.29. Volume was about 2.6 million compared to the daily average volume of less than 1 million.