After The Bell: Dow Plunges

Andy Giersher
May 29, 2018 - 5:58 pm
Stock Exchange Wall Street

CHICAGO (WBBM NEWSRADIO) -- Stocks closed sharply lower Tuesday, as political turmoil in Italy and volatile trade talks with China put investors in a selling mood.

The S&P 500 lost 31; the NASDAQ shed 37 and the Dow Jones Industrial Average closed down nearly 400 points, settling to 24,361. 

The Dow and S&P 500 both posted their worst single day performance since April 24.

"We've been hit with these types of events starting with Greece, Brexit, Trump election – and now Italy,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.

“For each of these events the markets have reacted fairly violently, but after the dust settles, investors come back to the equity markets and we could see higher equity prices. If not later on this week, into next week.”

He added that he sees value in technology, energy and emerging markets.