{"id":828842,"date":"2025-02-22T08:11:43","date_gmt":"2025-02-22T14:11:43","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/22\/the-dow-plunges-750-points-as-bad-economic-news-piles-up-fast\/"},"modified":"2025-02-22T08:11:43","modified_gmt":"2025-02-22T14:11:43","slug":"the-dow-plunges-750-points-as-bad-economic-news-piles-up-fast","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/22\/the-dow-plunges-750-points-as-bad-economic-news-piles-up-fast\/","title":{"rendered":"The Dow plunges 750 points as bad economic news piles up fast"},"content":{"rendered":"
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Photo: Spencer Platt (Getty Images)<\/figcaption><\/p>\n<\/div>\n

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In This Story<\/h6>\n<\/section>\n

U.S. stocks plummeted on Friday on poor economic news. Consumer confidence weakened to the lowest level since November 2023, even as long-run inflation expectations rose to the highest since 1995. The services purchasing managers\u2019 index fell into contractionary territory and January home sales contracted by<\/a><\/span> more than expected.<\/p>\n

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Suggested Reading<\/h4>\n<\/div>\n
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Amazon takes creative control of the James Bond movie franchise<\/p>\n<\/div>\n

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Suggested Reading<\/h4>\n<\/div>\n

As the day ended, the Dow Jones Industrial Index plunged by 748 points, or 1.6%. The S&P 500 slid 1.7%, and the Nasdaq Composite index fell 2.2%. Adding to the negative sentiment: UnitedHealth (UNH<\/a><\/span>) fell almost 7% on news of a Justice Department investigation<\/a><\/span>.<\/p>\n

Notable market movers on Friday also included Alibaba, Celsius, Block, Dropbox.<\/a><\/span><\/p>\n

<\/a>UnitedHealth under DOJ\u2019s radar<\/h2>\n

UnitedHealth Group (UNH<\/a><\/span>) is under fire over its Medicare billing practices.<\/a><\/span> The Wall Street Journal reported<\/a><\/span> Friday that the U.S. Department of Justice (DOJ) has launched a civil fraud investigation into how the company records diagnoses that lead to extra payments for its Medicare Advantage plans.<\/p>\n

<\/a>SEC drops case against Coinbase<\/h2>\n

The Securities and Exchange Commission (SEC) plans to drop its enforcement case against Coinbase<\/a><\/span>, marking a significant shift in cryptocurrency regulation.<\/p>\n

Following the announcement, Coinbase\u2019s (COIN<\/a><\/span>) shares rose in the morning but declined in the afternoon. The SEC had accused Coinbase<\/a><\/span> of operating an unregistered securities exchange and offering unregistered securities.<\/p>\n

\u2014Bruce Gil contributed to this article.<\/em><\/p>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Vinamrata Chaturvedi and Josh Fellman<\/p>\n","protected":false},"excerpt":{"rendered":"

Photo: Spencer Platt (Getty Images) In This Story U.S. stocks plummeted on Friday on poor economic news. Consumer confidence weakened to the lowest level since November 2023, even as long-run inflation expectations rose to the highest since 1995. The services purchasing managers\u2019 index fell into contractionary territory and January home sales contracted by more than<\/p>\n","protected":false},"author":1,"featured_media":828843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24096,22532],"tags":[],"class_list":{"0":"post-828842","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-plunges","8":"category-points"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=828842"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/828843"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=828842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=828842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=828842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}