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Dow drops 1,500, erasing gain for 2018 - KRISTV.com | Continuous News Coverage | Corpus Christi

Dow drops 1,500, erasing gain for 2018

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NEW YORK (AP) - The Dow Jones industrial average plunged as much as 1,500 points, erasing its gain for the year, as the market extends a slump that began Friday.

The Dow's point loss would be its biggest of all time, though, in percentage terms, its 5.6 percent decline wasn't as big as its worst drop during the financial crisis.

The slide Monday brought the Dow back below 24,000 points.

The market's slump began on Friday as investors worried that creeping signs of higher inflation and interest rates could derail the market's record-setting rally.

The Dow skidded as much as 1,500 points, before recovering some of its losses. It was down 872, or 3.4 percent, to 24,651.

The Standard & Poor's 500 index fell 74 points, or 2.7 percent, to 2,686

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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