1/24, 6:17 PM (Source: TeleTrader)
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Dow crashes over 1,000 pts on Fed, Ukraine news

Major stock markets in the United States continued to record losses on Monday, with the Dow Jones Industrial Average plunging by over 1,000 points. The decline comes in anticipation of the Federal Open Market Committee's (FOMC) forthcoming two-day meeting, which will take place on January 25 and 26, after which the Federal Reserve will unveil its newest monetary policy decision.

In addition to that, the latest report on the country's private sector showed that its activity landed at an 18-month low in January. Also, the situation on the border between Russia and Ukraine remains tense, with the Kremlin accusing the US and the European Union of causing a "hysteria" by spreading "a huge amount of false information" on the matter. The White House later announced President Joe Biden will have a video call on the issue with his European allies.

The Dow Jones Industrial Average plummeted by 3.04% or 1,042 points at 12:20 pm ET. At the same time, the Nasdaq 100 sank by 4.81%. Meanwhile, the S&P 500 lost 3.82%. The euro fell by 0.24% against the dollar at 12:24 pm ET, selling for $1.13184.

Baha Breaking News (BBN) / JR