Stocks failed to deliver a so-called Santa Claus Rally, a trend first identified by Yale Hirsch and the "Stock Trader's Almanac" in 1972 as broad index gains over the final five t

Santa Claus is leaving investors in the lurch once again in 2024 as U.S. stocks have struggled during the typically bullish home stretch of the year.

In midday trading, the Dow Jones Industrial Average plunged 528 points, or 1.2%, to 42,796. The S&P 500 lost 1.7%, and the Nasdaq dropped more than 450 points, or 2.3%. All three indexes are still set for weekly gains, with the benchmark index now about 2.3% below its all-time high of 6,099.97 points clinched on Dec. 6.

Investors became gloomy on Friday, threatening to derail a long winning streak for stocks, as inflation remained high.

U.S. stock futures were edging higher to start the week, extending some early gains to start the year. It’s a welcome relief after St. Nick decided not to visit the stock market. The rebound follows a disappointing spell after the Christmas holiday–the proverbial Santa Claus Rally,

U.S. stock futures were edging higher to start the week, extending some early gains to start the year. It’s a welcome relief after St. Nick [decided not to visit](