Business & Tech
Dow Falls 1000 Points As Market Swoons Again
The market's turmoil began last week and has continued this week.
NEW YORK (AP) —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.
Find out what's happening in New York Cityfor free with the latest updates from Patch.
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.
Find out what's happening in New York Cityfor free with the latest updates from Patch.
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.
Photo: Trader Michael Milano, right, works on the floor of the New York Stock Exchange, Thursday, Feb. 8, 2018. U.S. stocks are lower Thursday morning as losses from the previous day continue. Photo by Richard Drew/Associated Press
