Dow Jones Tumbles 1,100 Points, Recording 1st 10-Day Losing Streak Since 1974

‘Today’s Fed announcement put more uncertainty on the table,’ an investment adviser said.

Trader Michael Milano works on the floor of the New York Stock Exchange, Wednesday, Dec. 18, 2024. AP Photo/Richard Drew

The Dow Jones Industrial Average has extended its losing streak to 10 days, the first such skid since 1974, as the Federal Reserve’s interest rate outlook for 2025 disappointed investors.

The Fed announced on Dec. 18 that it expects fewer interest rate cuts in 2025 because of inflation pressures. Following the announcement, the blue-chip index tanked by 1,123.03 points—or 2.58 percent—to 42,326.87.