Dow plunges 1,100 points as 10-day losing streak hits

The Dow Jones Industrial Average plummeted Wednesday, marking its longest losing streak in nearly half a century as the Federal Reserve issued a lackluster economic forecast.

Closing down 1,123 points, or 2.6%, the blue-chip index has now declined for 10 consecutive days, a sequence last witnessed during the presidency of Gerald Ford from Sept. 20 to Oct. 4, 1974, according to CNN. This downturn began after the Fed’s policy statement revealed expectations of only two interest rate cuts in 2025.