Wall Street kicked off the new year on a sour note, with the major averages falling sharply on the first trading day of 2021.
 | MON, JAN 04, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 129.41 | -3.28 | -2.47% | | INTC | 49.67 | -0.15 | -0.30% | | MSFT | 217.69 | -4.73 | -2.13% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 129.41 | -3.28 | -2.47% | | F | 8.52 | -0.27 | -3.07% | | GE | 10.47 | -0.33 | -3.06% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 129.41 | -3.28 | -2.47% | | AMD | 92.30 | +0.59 | +0.64% | | TSLA | 729.77 | +24.10 | +3.42% | |
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Wall Street kicked off the new year on a sour note, with the major averages falling sharply on the first trading day of 2021. The Dow Jones Industrial Average closed down by 382 points, or 1.3%. At one point, the Dow had fallen more than 700 points. It was the first negative start to a year for the Dow since 2016. The S&P 500 and Nasdaq Composite each dropped 1.5%. However, both the Dow and S&P 500 hit all-time intraday highs at the open. Monday's decline came as traders kept an eye on Georgia ahead of its Senate runoff elections. John Stoltzfus, chief investment strategist at Oppenheimer, said Monday that the S&P 500 could fall by 10% if the Democratic candidates win the Georgia vote.  "It is thought by not just a few folks on Main Street as well as on Wall Street that if tomorrow's run-off results in a sweep for the Democrats — providing them with control of the Senate as well as the House — that it would bode ill for business with the likelihood that corporate tax rates could rise substantially," said Stoltzfus. Meanwhile, the rising number of coronavirus cases continues to cast doubt over the nation's economic recovery. Data compiled by Johns Hopkins University showed more than 20 million Covid-19 infections have been confirmed in the U.S. Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
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