The Dow Went Negative for the Year On Friday. One Third of the Dow is Down by Double-Digits.

October 25, 2023

by Pam Martens and Russ Martens Wall Street on Parade

The Dow Jones Industrial Average of 30 big-cap stocks closed out last year on Friday, December 30, 2022 at 33,147.25. After setting a year-to-date low of 31,819.14 on March 13 of this year during the banking crisis (a negligible decline of 4 percent year-to-date), the Dow climbed its way back to a year-to-date high of 35,630.68 on August 1. Since then, the Dow has been setting sharply lower lows – a sign of deterioration in its components. The Dow again went negative year-to-date last Friday, October 20, closing at 33,127.28.

Equally notable, 20 components of the Dow 30, or two-thirds of the components, were negative year-to-date as of the close yesterday, October 23. Ten of the Dow’s components were down by double-digits year-to-date, through October 23. (See chart below.)