The Dow Dropped More Than 1000 Points For The Second Time This Week

News & Culture Writer
02.08.18 9 Comments

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A mere three days after it plummeted over 1500 points, the Dow Jones Industrial Average dropped over 1000 points on Thursday. By the time the market in the U.S. had closed with its final bell, the damage was clearly done — the Dow had fallen a total of 1033 points in a single day, making it the second worse single-day loss in history. The first? Monday’s 1175-point loss, thereby putting the Dow ten percent down from its record-breaking high from two weeks ago. As a result, CNN and other outlets covering the markets called the move a “correction.”

Even with Thursday’s losses, the likelihood of an impending stock market crash remains low, but that hasn’t stopped experts and novice analysts alike from worrying. “This is not the end of the world, but it is uncomfortable,” PNC Investments CEO Rich Guerrini told CNN. Ryan Detrick, a senior market strategist with LPL Financial, added that “the bond market has definitely got the stock market’s attention” with some rather worrisome questions. “Is the bond market telling us something we don’t know? Is there more inflation down the road than we’re expecting?”

CNN added that Monday and Thursday’s drastic drops weren’t “nearly as bad as the scary days of the 2008 financial crisis,” but that doesn’t mean there isn’t cause for concern. Besides, the fact that “a stock market accustomed to a steady climb for more than a year and half has given way to two weeks of shaky selling” doesn’t necessarily bode well for future trading — let alone a complete recovery.

(Via CNN)

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