The Dow Jones dropped 1,032.89 points for the day, closing at 23,860.46 – a drop of over 10% from the recent highs. That officially puts the market into “correction” territory, as investors worry about rising rates and other instability in American finance.
A selloff during the final hour of trading sent the market to another historically bad day for stocks.
The Associated Press reports on the timeline of today’s drop. All times are Eastern.
The Dow Jones industrial average plunged more than 1,000 points as a weeklong market swoon continued.
The Dow is 10 percent below the record high it set just two weeks ago, putting it in what is known on Wall Street as a “correction.”
The Standard & Poor’s 500, the benchmark for many index funds, is also 10 percent below the record high it set two weeks ago.
Worries about inflation set the market rout in motion last Friday, and many market watchers have been predicting a pullback after the market’s relentless march higher over the past year.
The Dow dropped 1,032 points, or 4.1 percent, to 23,860.
The S&P 500 gave up 100 points, or 3.8 percent, to 2,581. The Nasdaq lost 274 points, or 3.9 percent, to 6,777.
The Dow Jones industrials are down 800 points, extending the market’s losses.
Stocks started to fall in early trading and extended their losses throughout the morning.
The market’s turmoil began last Friday and has continued this week as investors worried about early signs of inflation.
Analysts have also been saying the market has gotten much too expensive after a huge run-up over the last year and has been long overdue for a pullback.
The Dow was down 810 points, or 3.3 percent, to 24,088.
The Standard & Poor’s 500 index gave up 77 points, or 2.9 percent, to 2,603.
The S&P 500 is down 9.3 percent from the record high it set January 26.
The Nasdaq composite lost 212 points, or 3 percent, to 6,838.
The Dow Jones industrials are down 500 points, extending the market’s losses.
The market opened little changed on Thursday but started to fall in early trading and extended its losses throughout the morning. The losses were steady, unlike the sharp swings seen over the past few days.
The benchmark Standard & Poor’s 500 index is now down 8 percent from the record high it set January 26. It’s still up 15 percent over the past year.
Technology companies, the leading sector over the past year, and banks fell the most. Microsoft lost 2.3 percent.
The Dow was down 501 points, or 2 percent, to 24,397.
The S&P 500 gave up 44 points, or 1.7 percent, to 2,637. The Nasdaq composite lost 125 points, or 1.8 percent, to 6,926.