Dow Plunges 530 Points and More Than 1,000 for the Week
Stocks were clobbered Friday on Wall Street — a brutal finish to the worst week in the market in four years. The Dow Jones industrial average closed down 530 points, the ninth-biggest point decline in its history.
Investors 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 fell more than 1,000 points this week alone and is down more than 10 percent from its all-time high in May — the definition of a market correction. That has not happened in four years.
Correction, or the beginning of the next major adjustment?
Guess we'll see on Monday.
Monday Should Be Interesting
Quote:
Stocks were clobbered Friday on Wall Street — a brutal finish to the worst week in the market in four years. The Dow Jones industrial average closed down 530 points, the ninth-biggest point decline in its history.
Investors 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 fell more than 1,000 points this week alone and is down more than 10 percent from its all-time high in May — the definition of a market correction. That has not happened in four years.
Guess we'll see on Monday.
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