The Dow Jones dives 500 points as Treasury returns rise; Bitcoin falls below $ 33,000

The Dow Jones Industrial Average plunged 500 points on Monday morning, as the stock market correction worsened. Bitcoin fell to its lowest level since July 2021. And the 10-year government interest rate rose to 3.14% after Friday’s new highs.


Tyson Foods (TSN) was an important earnings engine early Monday after reporting quarterly results before the opening. TSN shares erased early gains in morning trading. The stock forms a cup with handles with a buy point of 99.64.

Electric vehicle giant Tesla (TSLA) skipped more than 3% Monday morning. Dow Jones leaders apple (AAPL) and Microsoft (MSFT) traded down more than 1% in today’s stock market.

In the midst of a deterioration in the stock market, Dow Jones is leading Merck (MRK) – together with Cheniere energy (LNG), Exxon Mobile (XOM), Nutrients (NTR) and World Wrestling Entertainment (WWE) – is among IBD’s best stocks to watch on Monday.

Cheniere Energy, Microsoft, Nutrien and Tesla are IBD Leaderboard stocks. Exxon and Merck were mentioned in last week’s column for equities near a buy zone.

Dow Jones Today: Treasury Yields, Oil Prices, Bitcoin

After Monday’s opening, the Dow Jones Industrial Average sold 1.5%, and the S&P 500 fell 1.9%. Nasdaq plunged 2.1% in morning trading.

Among exchange-traded funds, the Nasdaq 100 tracking Invesco QQQ Trust (QQQ) fell 1.5%. SPDR S&P 500 ETF (SPY) fell 1.6%.

The 10-year government interest rate ticked up to 3.14% on Monday morning. On Friday, the 10-year government interest rate closed at 3.12% – the highest level since November 2018. In the meantime, the US oil price lost almost 3%. West Texas Intermediate oil traded just under $ 107 a barrel.

Bitcoin fell below $ 33,000 on Monday morning, trading as low as $ 32,650 before losing. The price of Bitcoin is at its lowest level since July 2021, when it was traded as low as $ 28,825, according to CoinDesk. Exchange of cryptocurrency Coin base (COIN) stumbled around 6% and ProShares Bitcoin Strategy ETF (BITO) was down almost 9% on Monday morning.

Stock correction gets deeper

On Friday, the stock market showed another disappointing development, as the major stock indices fell for a second session in a row. Nasdaq carried the bulk of sales, falling 1.4% to reach a new low for correction.

Friday’s The Big Picture column commented: “The Dow Jones’ fall of 0.2% for the week was not exactly a blow to the 30-share index. Still, Dow Industrials suffered its sixth week in a row and (the index) is not. to stumble below the lowest level so far this year of 32,272. “

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Five Dow Jones shares to see now

Dow Jones shares to see: Merck

Dow Jones drug stock Merck is below a 89.58 buy-by-handle base after a brief outburst in recent weeks. The stock rose 0.4% on Friday, ending about 1% during the last listing. Merck shares were 1% lower on Monday morning.

On a positive note, the stock’s relative strength line recently reached new heights, indicating large stock market results during the current stock market correction.

Three top growth stocks to see in timerent Stock market correction

Shares to look at: Cheniere, Exxon, Nutrien, WWE

Cheniere Energy is just below a flat base’s 149.52 buy point after Friday’s gain of 3.1%. LNG shares fell around 1% on Monday morning.

Energy giant Exxon Mobil broke out past a cup with handle purchase points of 89.90 on Wednesday. The stock is in the 5% buying range going up to 94.40, according to the IBD MarketSmith chart analysis. Exxon shares fell around 3% early Monday.

The IBD Leaderboard stock Nutrien is still trying to recover from its 50-day line, an important support level, in the middle of Friday’s 0.3% rise. Commercial stocks fell more than 3% on Monday morning.

World Wrestling Entertainment continues to track a flat base that has a buy point of 63.81. The shares are below the 50-day line after two days in a row with heavy losses. WWE shares fell more than 1% on Monday.

Join IBD experts as they analyze leading stocks in the current stock market correction on IBD Live

Tesla shares

The Tesla share slipped more than 3% on Monday morning, threatening to increase Friday’s loss by 0.9% and extend a losing streak to three sessions. The shares are again below the 50- and 200-day lines.

The shares in the EV giant ended on Friday about 25% away from a cup with a handle buying point of 1,152.97. The stock traded as high as 1,243.49 on November 4 and is about 30% away from the record high.

Dow Jones executives: Apple, Microsoft

Among Dow Jones shares, Apple shares rose 0.3% on Friday, but are still below the 200-day limit. Apple stock fell 1.2 percent on Monday.

Software leader Microsoft fell 0.9% on Friday, declining for the second session in a row. The stock closed more than 20% of its 52-week high. MSFT shares fell 1.1% on Monday morning.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.


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