Dow Jones Industrial Average Tumbles 513 Points
U.S. stocks plunged from the most significant selloff since the financial crisis, driving the Dow Jones Industrial Average (DJIA) down greater than 500 points, as investors appeared to lose faith inside the potential with the world’s policy makers to revive the world-wide economy and stave off a rolling debt crisis in Europe.
The Dow cascaded reduce throughout the session. It completed just off the lows which has a 512.76-point decline, or 4.31%, to 11383.68, erasing all its gains for 2011. The slump of the past handful of weeks has pushed the Dow down in excess of 10% from its May intraday highs, placing the index officially in correction territory.
It absolutely was the measure’s largest single-day loss since Dec. 1, 2008, if the Dow plunged 679.95 points with the height of the financial crisis, one particular with the market’s worst days ever.
The Standard & Poor’s 500-stock index fell 60.27 points, or 4.78%, to 1200.07. The S&P and Nasdaq Composite also moved into correction territory. The Nasdaq slumped 136.68 points, or 5.08%, to 2556.39.
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