Dow Drops 348 Points as Stocks Resume December Slide

Strong jobless claims data did little to help investor sentiment

Deputy Editor
Dec 22, 2022 at 4:24 PM
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This week's bounce appears to have been fleeting, as stocks once again resumed their December selloff. The Dow finished 348 points lower, and was off by over 650 points at its session lows. The Nasdaq also turned in solid triple digit losses, while the S&P 500 suffered its second-worst day of the month.

Elsewhere, Wall Street's "fear gauge" -- the Cboe Volatility Index (VIX) snapped its four-day losing streak. Today's jobs data did little to assuage investors, as many reason that it will cause the Fed to remain aggressive in its policy tightening due to inflation. 

Continue reading for more on today's market, including:

  • How put traders scored a profit with Rivian Automotive stock. 
  • Just how bad has it been for Tesla stock lately?
  • Plus, two biotech stocks making moves; behind CLF's surge; and options bears target MU. 

Closing Indexes Summary Dec 22

NYSE and Nasdaq Stats Dec 22

5 Things to Know Today 

  1. An update on the former FTX CEO's trial, Sam Bankman-Fried is to be released on a $250 million bond. (MarketWatch)
  2. According to ByteDance, the parent company of TikTok, some employees improperly accessed the user data of two U.S. journalists this summer. (Reuters)
  3. Biotech stocks in the spotlight today. 
  4. Options traders loaded up on this steel stock today. 
  5. Micron's disappointing current-quarter forecast

Corporate Earnings Dec 22

Unusual Options Activity Dec 22

Gold Drops Below $1,800

Oil prices climbed today, with West Texas Intermediate (WTI) crude for January delivery adding $2.06 or 2.7%, to settle at $78.29 per barrel. 

Gold prices dropped back below the $1,800 level today. February-dated gold lost $30.10, or 1.7%, to settle at $1795.30 per ounce. 

 

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