Stock Market Plunge: Dow Plunges to Lowest Level in a Year on China Fears
Source: NBCNEWS.com
Stocks were clobbered Friday on Wall Street — a brutal finish to the worst week in the market in almost four years. The Dow Jones industrial average closed down 530 points, the ninth-biggest point decline in its history.
Investors were worried about signs of a slowdown in the Chinese economy that could hammer companies and countries around the world. The stock of Apple, which depends heavily on demand from China, fell more than 6 percent.
The Dow finished at 16,459. It has fallen more than 1,200 points in August alone and more than 10 percent decline from its all-time high in May — the definition of a market correction. That has not happened in four years.
The Dow's decline came to 3.1 percent. The Standard & Poor's 500 index, a broader gauge of the stock market, finished down 3.2 percent and closed below 2,000 for the first time since early this year.
Read more: http://www.nbcnews.com/business/markets/stock-market-plunge-dow-plunges-lowest-level-year-china-fears-n413916
Looks like the party's over.
= new reply since forum marked as read
So true
