Dow falls nearly 900 points and Nasdaq dives 4% as stock sell-off gathers steam
Major stock indexes tanked Monday, continuing a sell-off that gathered steam last week as rattled investors began zeroing in on the prospect of a significant falloff in U.S. growth amid persistent inflation and a wobbling job market.
Major stock indexes tanked Monday, continuing a sell-off that gathered steam last week as rattled investors began zeroing in on the prospect of a significant falloff in U.S. growth amid persistent inflation and a wobbling job market.
The broad S&P 500 index closed down 2.7%. Not only has it now given up all of President Donald Trump's post-election gains, it fell to its lowest level since September and is essentially unchanged over the past seven months. It was the biggest one-day drop since December.
The tech-heavy Nasdaq fell 4% as it plunged deeper into "correction" territory, meaning it is off more than 10% from recent highs. It was its worst day since 2022.
The Dow Jones Industrial Average dropped nearly 900 points, or roughly 2.1%.
Recession fears were heightened this weekend after Trump declined to say that there wouldn’t be one. In an interview with Fox News that aired Sunday, Trump responded to a question about the possibility of a recession by saying the economy was going through “a period of transition.”
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