---
title: "Dow Climbs 1,050 Points in Largest-Ever Rally While Bitcoin Slumps"
publisher: "Share Talk"
author: "sharetalk"
published: "2018-12-27T14:00:28+00:00"
modified: "2018-12-27T14:01:17+00:00"
date: 2018-12-27
canonical: "https://www.share-talk.com/dow-climbs-1050-points-in-largest-ever-rally-while-bitcoin-slumps/"
category: "Fintech"
categories: ["Fintech"]
tags: ["Bitcoin", "Christmas rallies", "cryptocurrency market", "Dow Jones"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Dow Climbs 1,050 Points in Largest-Ever Rally While Bitcoin Slumps

**Published:** December 27, 2018
**Author:** sharetalk
**Categories:** Fintech
**Tags:** Bitcoin, Christmas rallies, cryptocurrency market, Dow Jones
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1)

---

The US stock market may be in dire straits relative to its early-year performance, but don’t call it a recession yet. Bolstered by strong showings from the retail and energy sectors, the Dow Jones Industrial Average and S&P 500 each posted stellar post-Christmas rallies, even as the bitcoin price slumped several percentage points to headline a generally-sluggish day for the cryptocurrency market.

Both the [Dow](http://ccn.com/tag/dow-jones) and [S&P 500](http://ccn.com/tag/s&p-500) had waded into the red earlier in the day, but the two stock market indices roared back to life heading into the afternoon, breaking away from their [recent bearish trends](https://www.ccn.com/us-china-trade-war-sees-no-progress-trouble-for-the-dow-jones/). As of the time of writing, the Dow had rallied by 1,086 points for the day — its largest single-day gain ever — while the S&P 500 gained 4.95 percent after Mastercard SpendingPulse released [data](https://www.cnbc.com/2018/12/26/us-futures-following-christmas-eve-plunge.html) showing that retailers had experienced their best holiday spending season in six years.

![](https://www.share-talk.com/wp-content/uploads/2018/12/Image-2018-12-27-at-1.56.33-PM-300x154.png)

On the crypto front, however, investors were much less enthusiastic. The bitcoin price traded down approximately 0.32 percent to a composite average of $3,819 over the previous 24 hours, and most other top 10-cryptocurrency assets posted minor pullbacks as well. Outside of the large-cap index, however, [ethereum classic](http://ccn.com/tag/ethereum-classic) — ranked 17th by market cap — headlined with a 10.31 percent rally to $5.15.

*Featured Image from Shutterstock. Charts from [TradingView](https://www.tradingview.com/ideas/cryptocurrency/).*

 

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