Wall Street tumbled on Friday amid increasing global growth concerns, with the yield on the US 10-year note falling below the 3-month bill yield for the 1st time since 2007. On Friday, preliminary Markit PMIs for Japan, Europe and the US came weaker-than-expected, adding to an economic downgrade from the Fed earlier in the week and persistent uncertainties over the US-China trade deal. The Dow Jones plunged 1.8% or 460 points to 25502 , the S&P 500 fell 1.9% or 54 points to 2800 and the Nasdaq tumbled 2.5% or 196 points to 7643. Historically, the Dow Jones Industrial Average reached an all time high of 26828.39 in October of 2018 and a record low of 41.20 in July of 1932.
The Dow Jones Industrial Average is expected to trade at 25544.91 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 24472.11 in 12 months time.