New York Stock Exchange had a rough start on its first trading day of 2025, January 2nd, with all three major indices closing lower. On this day, the Dow Jones Industrial Average, which consists of blue-chip stocks, closed at 42,392.27, down 0.36% from the previous trading day. The S&P 500 index, a benchmark for large-cap stocks, fell 0.22% to finish at 5,868.55, while the tech-heavy Nasdaq index ended the day at 19,280.79, down 0.16%.
Both the S&P 500 and Nasdaq have been experiencing declines for five consecutive days, marking their longest losing streak since April of the previous year. The Dow has fallen for four consecutive days, making it the longest losing streak since December 18th.
Market investors attributed the downturn of the three major indices to profit-taking strategies and the sharp rise in the value of the U.S. dollar.