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10 February 2018, 02:56 | Vera Richards
Dow falls more than 1000 points
As of the close of the market on Thursday afternoon, the two most watched stock indexes, the Dow and the Standard & Poor's 500, have dropped 10 percent from their all-time highs, set January 26.
After Monday, which saw the biggest one-day drop in six years - now blamed on a combination of interest-rate fears, computer-driven trading and the effect of volatility funds - the results restored a measure of confidence.
The Dow closed 1,033 points lower on Thursday, the second day of the week it has experienced a four-digit loss.
"I think what we have moved into now is actually more investors taking more defensive approach to the market just purely as a reaction to the sharp price drop that we have had", added Lawler.
Analysts have said for months that financial markets were due a correction, after a long period of rising prices.
The swoon began Friday as investors anxious that accelerating inflation and higher interest rates could derail the market's record-setting rally.
On Monday, S&P 500 biggest losing stock was Wells Fargo. The Nasdaq Composite was down 274 points, or 3.9%, at 6,777. Trump's Administration downplayed the gravity of the selloff, with Deputy Press Secretary Shah telling journalists that markets do fluctuate and that this economy has got solid fundamentals.
United States stocks plummeted almost 4% on Thursday in another dramatic session as investors continued to fret about the possibility of rising inflation and higher interest rates.
In Europe, Germany's DAX fell 1.2 percent, while France's CAC 40 lost 1.2 percent. The indexes reached their latest record highs just two weeks ago.
Australia's S&P/ASX 200 was up 1.0 percent at 5,889.60. Amazon rose 2.2 percent.
Wall Street shares slid sharply again on Thursday, compounding losses on the Dow Jones Industrial Average and S&P 500 which started last week.
On Friday, stock markets around the world that opened ahead of the United States trading day were in sell-off mode.
The Dow took an early dive of 567 points shortly after the opening bell Tuesday, then surged as much as 367 points in the next half an hour.
Markets across the world followed the U.S. decline.
The S&P 500 also suffered, plummeting 101 points to finish at 2,581.
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