In the New York stock market on the 23rd, the Dow Average fell about $652 from the previous day, and risk aversion spread as investors reacted negatively to higher oil prices.
In the New York stock market on the 23rd, the Dow Jones Industrial Average ended down about $652.8 from the previous day. Selling prevailed at the open, and the major stock indexes remained weak.
The same day, some market participants viewed higher oil prices as having intensified concerns about US inflation, with reports suggesting that investors were adjusting their exposure to risk assets. The Dow's decline was also seen as reflecting long-term interest rates and the economic outlook.
In related news, the 23rd's NY stock market close was 52215.16 for the Dow Average, down -652.82 from the previous day.