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% Monday. The Dow Jones Industrial Average dropped more than 1,000 points, and the Nasdaq composite slid 3.4%. That followed a 12.4% 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%, to 5,186.33.
The Dow Jones Industrial Average fell 1,033.99 points, or 2.6%, to 38,703.27.
The Nasdaq composite fell 576.08 points, or 3.4%, to 16,200.08.
The Russell 2000 index of smaller companies fell 70.15 points, or 3.3%, to 2,039.16.
For the year:
The S&P 500 is up 416.50 points, or 8.7%.
The Dow is up 1,013.73 points, or 2.7%.
The Nasdaq is up 1,188.73 points, or 7.9%.
The Russell 2000 is up 12.09 points, or 0.6%.
