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| Dow drops 490 points, S&P and Nasdaq both plunge in biggest stock fall since Aug 23 | Dow drops 490 points, S&P and Nasdaq both plunge in biggest stock fall since Aug 23 |
| (about 2 hours later) | |
| The Dow plunged 490 points by the close of markets on Wednesday, and the Nasdaq and S&P500 also saw their steepest declines since the end of August, closing down 1.6 percent and 1.8 percent, respectively. | The Dow plunged 490 points by the close of markets on Wednesday, and the Nasdaq and S&P500 also saw their steepest declines since the end of August, closing down 1.6 percent and 1.8 percent, respectively. |
| All three indexes saw an ominous start to the quarter, while both the Dow and the S&P500 saw their worst start since the beginning of the 2008 recession. | All three indexes saw an ominous start to the quarter, while both the Dow and the S&P500 saw their worst start since the beginning of the 2008 recession. |
| President Donald Trump blamed House impeachment proceedings for the bad start to the quarter, pledging to cooperate with the investigation - perhaps in the hope of soothing the skittish markets, which have lagged this week in particular. The DOW fell by over 3 percent since Monday, losing 850 points. The NASDAQ and S&P also took hits in the same two-day period, dropping 2.6 percent and 2.9 percent respectively. Concerns about jobs and manufacturing have also contributed to the slide, with recession indicators looming large on the horizon. | |
| From the bond market’s inverted yield curve, to the slowdown in GDP growth, to a decline in business spending and corporate profits, signs of recession are everywhere - even as Trump boasts the economy is doing better than ever. | From the bond market’s inverted yield curve, to the slowdown in GDP growth, to a decline in business spending and corporate profits, signs of recession are everywhere - even as Trump boasts the economy is doing better than ever. |
| Like this story? Share it with a friend! | Like this story? Share it with a friend! |