New York Stock Exchange Plunges Major Stock Index On Policy Uncertainty

The "Trump Trade," or a mix of Trump beneficiary stocks' desire to realize gains, U.S. Federal Reserve policy uncertainty, and consumption and inflation concerns above expectations, sent New York's main stock indexes plummeting.

On the New York Stock Exchange, the Dow Jones 30 Industrial Average closed at 43,444.99, down 305.87 points or 0.7% from the previous session.The

Standard & Poor's 500 Index fell 78.55 points, 1.32% to 5,870.62, and the Nasdaq Composite Index plunged 427.53 points, 2.24% to 18,680.12.

Despite the plunge in Asian and European stock markets, the three major U.S. stock indexes did well, but the U.S. stock markets are also believed to have plunged due to the growing desire to realize profits and anxiety that the Fed's policy path has become uncertain.

In addition, Fed Chairman Jerome Powell hinted at adjusting the pace of the rate cut the previous day, and Fed figures who made public remarks also joined the cautionary stance, which is analyzed to have affected the stock market.