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Dow Slides 200 Points as Markets Open Lower Monday

MarketDash Editorial Team
7 days ago
U.S. stocks traded down Monday morning with major indices all in the red. Energy shares bucked the trend while communication services lagged. Q32 Bio surged 171% on a major asset sale deal, while several other stocks saw dramatic moves on corporate announcements.

U.S. markets kicked off Monday on a sour note, with all three major indices trading lower in morning action. The Dow Jones Industrial Average fell around 200 points, or 0.42%, to 47,515.41. The tech-heavy Nasdaq took the biggest hit, dropping 1.08% to 23,113.36, while the S&P 500 declined 0.68% to 6,802.39.

Sector Performance

Not everything was red on Monday. Energy shares jumped 1% to lead the market higher, benefiting from rising oil prices. On the flip side, communication services stocks were the day's biggest losers, falling 1.2% during trading.

Economic Data

The S&P Global manufacturing PMI was revised higher to 52.2 in November from a preliminary reading of 51.9, though it still came in below October's final reading of 52.5. The data suggests manufacturing activity remains in expansion territory but with slightly softer momentum than the previous month.

Biggest Movers Higher

Q32 Bio Inc. (QTTB) absolutely exploded Monday, with shares rocketing 171% to $5.91. The biotech company sold its Phase 2 complement inhibitor ADX-097 to Akebia for $12 million upfront, plus potential milestone and royalty payments that could reach $592 million. Not a bad deal for a company looking to streamline its portfolio.

Ambitions Enterprise Management Co. L.L.C (AHMA) also had a monster day, surging 102% to $9.75 in heavy trading.

KALA BIO, Inc. (KALA) shares gained 47% to $1.42 after the company announced it secured a $6 million securities purchase agreement. The company also appointed David Lazar as CEO and Chairman of the Board, signaling a fresh start for the business.

Biggest Decliners

Paranovus Entertainment Technology Ltd. (PAVS) shares cratered 81% to $0.1996 in a brutal selloff.

CN Energy Group Inc (CNEY) fell 18% to $1.19 despite announcing the launch of its PATHENBOT Robotics Solutions Platform and the official website for PATHENBOT. Investors apparently weren't impressed with the news.

Rubico Inc (RUBI) dropped 19% to $0.13 following the company's announcement of a 1-for-30 reverse stock split. Reverse splits are often viewed negatively by the market as a sign of distress.

Commodities Roundup

Oil prices climbed 1.7% to $59.53 per barrel, while gold edged up 0.2% to $4,261.40. Silver gained 0.9% to $57.62, and copper rose 0.8% to $5.3150, suggesting broad strength in the commodity complex.

Global Markets

European shares were mostly lower Monday. The eurozone's STOXX 600 fell 0.4%, while Spain's IBEX 35 Index dipped 0.1%. London's FTSE 100 managed a 0.1% gain, but Germany's DAX 40 dropped 1.1% and France's CAC 40 declined 0.4%.

Asian markets closed mixed, with Japan's Nikkei falling 1.89% and India's BSE Sensex down 0.08%. Hong Kong's Hang Seng gained 0.67%, and China's Shanghai Composite rose 0.65%, showing some resilience in Chinese equities.

Back to News

Dow Slides 200 Points as Markets Open Lower Monday

MarketDash Editorial Team
7 days ago
U.S. stocks traded down Monday morning with major indices all in the red. Energy shares bucked the trend while communication services lagged. Q32 Bio surged 171% on a major asset sale deal, while several other stocks saw dramatic moves on corporate announcements.

U.S. markets kicked off Monday on a sour note, with all three major indices trading lower in morning action. The Dow Jones Industrial Average fell around 200 points, or 0.42%, to 47,515.41. The tech-heavy Nasdaq took the biggest hit, dropping 1.08% to 23,113.36, while the S&P 500 declined 0.68% to 6,802.39.

Sector Performance

Not everything was red on Monday. Energy shares jumped 1% to lead the market higher, benefiting from rising oil prices. On the flip side, communication services stocks were the day's biggest losers, falling 1.2% during trading.

Economic Data

The S&P Global manufacturing PMI was revised higher to 52.2 in November from a preliminary reading of 51.9, though it still came in below October's final reading of 52.5. The data suggests manufacturing activity remains in expansion territory but with slightly softer momentum than the previous month.

Biggest Movers Higher

Q32 Bio Inc. (QTTB) absolutely exploded Monday, with shares rocketing 171% to $5.91. The biotech company sold its Phase 2 complement inhibitor ADX-097 to Akebia for $12 million upfront, plus potential milestone and royalty payments that could reach $592 million. Not a bad deal for a company looking to streamline its portfolio.

Ambitions Enterprise Management Co. L.L.C (AHMA) also had a monster day, surging 102% to $9.75 in heavy trading.

KALA BIO, Inc. (KALA) shares gained 47% to $1.42 after the company announced it secured a $6 million securities purchase agreement. The company also appointed David Lazar as CEO and Chairman of the Board, signaling a fresh start for the business.

Biggest Decliners

Paranovus Entertainment Technology Ltd. (PAVS) shares cratered 81% to $0.1996 in a brutal selloff.

CN Energy Group Inc (CNEY) fell 18% to $1.19 despite announcing the launch of its PATHENBOT Robotics Solutions Platform and the official website for PATHENBOT. Investors apparently weren't impressed with the news.

Rubico Inc (RUBI) dropped 19% to $0.13 following the company's announcement of a 1-for-30 reverse stock split. Reverse splits are often viewed negatively by the market as a sign of distress.

Commodities Roundup

Oil prices climbed 1.7% to $59.53 per barrel, while gold edged up 0.2% to $4,261.40. Silver gained 0.9% to $57.62, and copper rose 0.8% to $5.3150, suggesting broad strength in the commodity complex.

Global Markets

European shares were mostly lower Monday. The eurozone's STOXX 600 fell 0.4%, while Spain's IBEX 35 Index dipped 0.1%. London's FTSE 100 managed a 0.1% gain, but Germany's DAX 40 dropped 1.1% and France's CAC 40 declined 0.4%.

Asian markets closed mixed, with Japan's Nikkei falling 1.89% and India's BSE Sensex down 0.08%. Hong Kong's Hang Seng gained 0.67%, and China's Shanghai Composite rose 0.65%, showing some resilience in Chinese equities.