Tuesday, February 6, 2018

The Rout

Here's what's been going on in the stock market:

  • The Dow ended yesterday down 1,175 points, the largest one-day point decline on record. Given the lofty levels the index is at, though, that's a little misleading. The drop was 4.6 percent, the largest such move since August of 2011.
  • The rout wasn't quite as bad for the S&P 500 index. The S&P 500 fell 113 points, or 4.1 percent, its largest percentage decline since 2011. 
  • Both the Dow and S&P 500 have erased their gains for the year. The Dow is down 1.5 percent and the S&P 500 is down 0.9 percent. The Nasdaq is still up 0.9 percent.
  • Boeing, which has been the driving force behind the Dow’s gains over the last year, turned to its biggest drag on Monday, wiping 138 points from from the index.  
  • Still, given how much the market has risen in recent months, the Dow and S&P are only at their lowest levels since December 8 and December 7, respectively.

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