This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-42942921
The article has changed 15 times. There is an RSS feed of changes available.
| Version 5 | Version 6 |
|---|---|
| Dow Jones hit by worst fall since 2008 | |
| (35 minutes later) | |
| The Dow Jones Industrial Average has closed down by 1,175 points in the biggest one day fall since the financial crisis. | |
| The leading US stock market index closed down 4.6% at 24,345.75. | |
| It is the worst drop in points since September 2008 when a plan to rescue the US banking industry was rejected. | |
| The decline extended losses on Friday, when strong wage growth data raised the prospect of accelerated interest rate rises. | |
| Monday's sell-off surpassed a 777.68 points drop on the Dow Jones on 29 September 2008 when Congress rebuffed a $700bn bank bailout plan following the collapse of US investment bank Lehman Brothers earlier that month. | |
| The decline in the Dow was closely followed by the wider S&P 500 stock index, down 3.8% and the technology-heavy Nasdaq, down 3.7%. | |
| The Dow's dramatic fall marks a turnaround from January, when it raced past the 25,000 and 26,000 point milestones in less than a month. | |
| David Madden, market analyst at CMC Markets, said: "Equity traders were enjoying a bullish run recently, and the jolt from the major decline in the US last Friday has triggered a worldwide round of profit taking." | David Madden, market analyst at CMC Markets, said: "Equity traders were enjoying a bullish run recently, and the jolt from the major decline in the US last Friday has triggered a worldwide round of profit taking." |
| US shares suffer sharpest drop since 2016 | US shares suffer sharpest drop since 2016 |
| The decline followed months of market increases, which had fuelled concerns that share prices were over valued. | |
| The Dow Jones rose more than 25% in 2017 - a year which was also unusual for its lack of sharp moves. | The Dow Jones rose more than 25% in 2017 - a year which was also unusual for its lack of sharp moves. |
| "There is going to be more volatility this year, " Andrew Wilson chief executive of Goldman Sachs Asset Management, told the BBC. | "There is going to be more volatility this year, " Andrew Wilson chief executive of Goldman Sachs Asset Management, told the BBC. |
| "We are in a cycle where central banks are reducing the amount of bonds they are buying and some central banks putting up interest rates," he said. | "We are in a cycle where central banks are reducing the amount of bonds they are buying and some central banks putting up interest rates," he said. |