Electronics

Dow plunges more than 1000 points, falls into correction territory

Dow plunges more than 1000 points, falls into correction territory

And the VIX, a measure of market volatility, is near the highest level since August 2015.

An early gain in the market quickly evaporated and the selling intensified in the afternoon.

Corrections of up to 15 percent "are normal", said Oliver. The Dow began Tuesday up about 6,000 points since the election. If the S&P declines 20% at any point in the day, trading is called off for the day.

Martin, of Globalt Investments, said he did not see anything specific moving the market lowertoday.

"What we're seeing in the stock market is some investors looking at the success of the stock market over the last little while and considering whether that success is appropriate, based on expectations".

USA stocks rallied Tuesday as a late surge helped them regain nearly half their losses from the day before, when they had their biggest plunge in 6 ½ years.

The FTSE 100 also tumbled by 193 points or 2.64 percent to 7141 points, the lowest level it has been since April 2017. On Monday, the Dow fell 1,200 points-it's biggest single-day point loss in history-but the index then regained much of what it had lost by Wednesday.

"History suggested the S&P 500 was overdue for a pullback: 404 trading days had elapsed since the market last experienced a 5 percent drawdown, the longest stretch of time in almost 90 years!"

"In the absence of recession, a deep bear market is unlikely", he said.

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Some analysts have cautioned the decrease in an unusually strong market could merely be a correction, which considers any drop below 10% healthy.

"When the market declines sharply, everyone naturally wonders, 'What's wrong?' Nothing is wrong economically", said Greg McBride, chief financial analyst for Bankrate.com, according to NBC News.

Some investors, however, fear the market is over-stretched in the context of higher inflation and rising bond yields as central banks withdraw their easy money policies of recent years.

The pan-European FTSEurofirst 300 index lost 2.50 percent and MSCI's gauge of stocks across the globe gained 0.14 percent. The Nikkei in Japan closed down 4.7%, China's main stock index closed down 3.3%, and Australia's closed down 3.2%. The Nasdaq was down 125 points, or 1.8 percent, to 6,651.

The Standard & Poor's 500 index rose 24 points, or 0.9 percent, to 2,604. His promises for big corporate tax cuts helped lift the Dow more than 8,000 points, though it has since given back about a quarter of that surge.

Benchmark U.S. crude lost 77 cents, or 1.3 percent, to $60.38 per barrel on the New York Mercantile Exchange.

CURRENCIES: The dollar edged up to 109.38 yen from 109.33 yen. The euro was trading at $1.2384.

On Monday, the Dow finished down 4.6 percent, the biggest decline in percentage terms since August 2011, when investors were fretting over Europe's debt crisis and the debt ceiling impasse in Washington that prompted a US credit rating downgrade.


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