The Dow plunges over 700 points as bad economic news piles up fast

MT HANNACH
2 Min Read
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Photo: Spencer Platt (Getty Images)
Photo: Spencer Platt (Getty Images)

On Friday, American actions fell bad economic news. Consumer confidence has been weakened at the lowest level since November 2023, even when long -term inflation expectations have reached the highest since 1995. Contracted by more than expected.

The industrial index of Dow Jones plunged 724 points, or 1.6%, at 3:30 p.m., the S&P 500 slipped 1.6%and the composite index Nasdaq dropped by around 2.1%. Adding to the negative feeling: United Headhealth has dropped almost 7% to the news of a Survey of the Ministry of Justice.

Friday, notable market movers also included Alibaba, Celsius, Block, Dropbox.

Unitedhealth Group (Oneh) East Under the fire of its Medicare billing practices. The Wall Street Journal reported On Friday, the United States Ministry of Justice (DoJ) launched an investigation into civil fraud on how the company records diagnoses that lead to additional payments for its Medicare Advantage plans.

The Securities and Exchange Commission (SEC) provides for Abandon your application file against Coinbasemarking a significant change in the regulation of cryptocurrencies.

After the announcement, Coinbase (COIN) Actions increased in the morning but decreased in the afternoon. Dry had accused Coinbase exploitation of an exchange of not registered securities and supply of unregistered securities.

—Bruce Gil contributed to the article.

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