Wall Street fell the most in nearly two years, continuing a global rout in financial markets, as fear worsens that the U.S. economy is slowing down.
The S&P 500 fell 3 percent Monday. The Dow Jones Industrial Average dropped more than 1,000 points, and the Nasdaq composite slid 3.4 percent. That followed a 12.4 percent plunge for Japan’s Nikkei 225, its worst day since 1987.
Worries over the economy are front and center after a series of disappointing reports, including a weaker-than-expected jobs report on Friday. Big Tech stocks, which have led the market to record after record this year, bore the brunt of the selling.
On Monday:
The S&P 500 fell 160.23 points, or 3 percent, to 5,186.33.
The Dow Jones Industrial Average fell 1,033.99 points, or 2.6 percent, to 38,703.27.
The Nasdaq composite fell 576.08 points, or 3.4 percent, to 16,200.08.
The Russell 2000 index of smaller companies fell 70.15 points, or 3.3 percent, to 2,039.16.
For the year:
The S&P 500 is up 416.50 points, or 8.7 percent.
The Dow is up 1,013.73 points, or 2.7 percent.
The Nasdaq is up 1,188.73 points, or 7.9 percent.
The Russell 2000 is up 12.09 points, or 0.6 percent.
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