US Dow Jones plunges over 1000 points
Washington D.C, February 09: US stock markets continue its decline and US Dow Jones has plunged more than 1,000 points for the second time this week. The breakdown of stock markets has increased the worries of increasing inflation and interest rates.
According to reports, fears about the bond market, inflation and interest rates seized investors again and drove the Dow, the Standard & Poor’s 500 and the Nasdaq all into the red for the year.
The Standard & Poor’s 500 index is now down 8.7 percent from the latest record high it set January 26. It’s still up 14 percent over the past year.
According to the reports, the blue-chip Dow Jones index closed 4.2 per cent lower at 23,860. By closing at 23,860 points, the Dow Jones industrial average was set back to its level on Nov. 17, 2017, and officially corrected.
In the final hour of trade, The S&P 500 fell more than 100 points, or 3.75 percent, and the Nasdaq lost 274 points, a loss of 3.9 percent.