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US stocks suffers worst Christmas Eve trading day on record as Trump Blames Fed for stock losses in a tweet

The Dow Jones Industrial Average plunged more than 650 points on Monday after Donald Trump renewed his attack on the Federal Reserve on Twitter. Meanwhile, the S&P 500 has suffered its worst December on record.

The Dow Jones lost 2.9 percent and the benchmark S&P500 lost 2.7 percent after the president’s tweet expressing frustration over the Fed’s decision to raise its key short-term rate. The tech-heavy NASDAQ was also down, trading 3.8 percent lower.

US stocks suffers worst Christmas Eve trading day on record as Trump Blames Fed for stock losses in a tweet

Earlier on Monday Trump continued his regular attacks on the Federal Reserve. “The only problem our economy has is the Fed. They don’t have a feel for the Market,” Trump tweeted. “The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!”

The next worst Christmas Eve for the Dow and S&P 500 was in 1985, when both indexes fell a little over 0.6 percent. The NYSE closes early on Monday at 1 p.m. ET. The exchange is closed on Tuesday for Christmas day. Wednesday through Friday are normal trading days.

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