January 3, 2019: The S&P 500 closed down 2.5% at 2,447.96. The DJIA closed down 2.8% at 22,686.36. Separately, the Nasdaq closed down 3.0% at 6,463.50.
Thursday was a down day for the broad U.S. markets. After a fairly decent Wednesday, markets as a whole took a sharp turn downward. Perhaps a driving force for this was Apple lowering its projections for iPhone sales. Crude oil made a handy gain in the session. The S&P 500 sectors were mostly negative. The most positive sectors were real estate and utilities up 0.7% and 0.3%, respectively. The worst performing sectors were technology and industrials down 4.7% and 2.8%, respectively.
Crude oil was last seen up 1.3% at $47.14.
Gold was last seen trading up 0.8% at $1,294.80.
The S&P 500 stock posting the largest daily percentage loss ahead of the close was Bristol-Myers Squibb Co. (NYSE: BMY) which traded down over 13% at $45.12. The stock’s 52-week range is $44.30 to $70.05. Volume was roughly 78.2 million compared to the daily average volume of 9.3 million.
The S&P 500 stock posting the largest daily percentage gain in the S&P 500 ahead of the close was The Celgene Corp. (NASDAQ: CELG) which rose by about 21% to $80.43. The stock’s 52-week range is $58.59 to $109.98. Volume was 77.5 million compared to the daily average volume of 6.6 million.