Here's Why the Market's Top Stocks Are Plunging to Start 2021
2020 is in the books, and as terrible as it was for people generally, the stock market did far better than most would've expected during the worst pandemic in a century. Yet Wall Street isn't starting 2021 on a particularly good foot. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) had fallen 483 points to 30,124. The S&P 500 (SNPINDEX: ^GSPC) had dropped 53 points to 3,703, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had declined by 161 points to 12,727.
Declines of 1% hardly qualify as a plunge, but for many big-name stocks, the beginning of the year is far harsher. Consider how some of these top performers are starting out 2021:
It's easy to conclude that the best of times are over for these stocks and that 2021 will bring a much different environment to the stock market. Yet there are actually a few reasons why investors shouldn't be surprised at seeing market leaders fall to begin the new year.
Source Fool.com
