Wall Street closed deeply in the red on 22 January 2019, as investors’ worries over a global economic slowdown have raised after the IMF downgraded global growth outlook for 2019 and 2020 amid a decelerating China and persistent fiscal, trade and monetary policy uncertainty in the United States. The Dow Jones plunged 301 points or 1.2% to 24406. The S&P 500 plummeted 38 points or 1.4% to 2633. The Nasdaq shed 137 points or 1.9% to 7020. 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 22667.49 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 21661.84 in 12 months time.