UNH sounded the alarm bell for the Dow Jones and the PMI data kept it ringing

The news concerning United Health (UNH) reported here at the time on Friday, saw the stock price plunge more than 12.5% at one stage after the opening. The stock did recover some of that, when later closing 7.32% lower. However, that was not the full story when it came to the Dow Jones, because the index was hit by a more widespread sell-off on Friday. That came after the latest US service sector PMI data really surprised to the downside. It fell to 49.7 from 52.9 and hence back into contractionary territory. Perhaps the very first alarm bell on that had come the day before from Walmart and their Q1 outlook? Well, for sure that PMI ensured it kept ringing and even more so for the Nasdaq 100. So, the Dow Jones, which had already opened lower (43,820 from a close on Thursday at 44,176) fell back to 43,349 at one stage. That 827 point fall was pared slightly by the close, but the index still ended the day 748 points lower, at 43,428. As with the Nasdaq 100 futures, just noted in the previous update, the Dow futures are higher this morning, but the same caveat applies, when it comes to where it might actually close tonight. The Dow Jones is currently priced to reopen around 43,585