Dow Drops 365 Points, Nasdaq Logs Lowest Close of 2022

A gloomy energy sector weighed on U.S. equities today

Laura McCandless

Deputy Editor

Dec 28, 2022 at 4:28 PM

Stocks extended their midday deficits to finish the day firmly lower, as investors unpacked this morning's pending home sales and manufacturing data. The Dow dropped 365 points as the energy sector weighed on the index, with J.P. Morgan Chase (JPM) the only Dow member to finish the day higher. The S&P 500 and Nasdaq both fell, the latter logging a second-straight triple-digit loss and its lowest close of 2022.

Continue reading for more on today's market, including:

Biotech stock skyrockets on FDA update.
Two chip stocks to watch amid oversupply issues.
Plus, two Dow underperformers; GNRC bounces; and a meme stock at annual low.

Closing Indexes Summary Dec 28

NYSE and Nasdaq Stats Dec 28

5 Things to Know Today

It was a rough year for tech, with $5.2 trillion in market cap gone from these 10 stocks. (MarketWatch)
South Korean President Yoon Suk-yeol has made comments regarding the North Korean drones that entered South Korea on Monday, the first intrusion of such since 2017. (Reuters)
These are the two worst Dow stocks in 2022.
Generac stock is further removing itself from recent lows.
AMC CEO requests pay freeze as shares fall.

There were no earnings of note today.

Gold Hanging On to $1,800

Oil prices settled cautiously lower today. West Texas Intermediate (WTI) crude for January delivery lost 57 cents, to settle at $78.96 per barrel.

Gold prices settled lower, though still above $1,800 per ounce. February-dated gold dropped $7.30, or 0.4%, to settle at $1,815.80 per ounce.

Follow @Schaeffers

Are You Ready for AI's Potential Supercycle Phase?
Amazon's Jeff Bezos surprised investors when he revealed that one emerging technology is the key to Amazon's future success... This technology could be worth $80 trillion by 2030. Learn more and join Motley Fool's Stock Advisor for 50% off!

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.