Thursday, October 11, 2018

Yesterday's Rout

It was a very rough day on Wall Street yesterday. The Dow Jones Industrial Average lost more than 800 points, and the S&P 500 had its worst day since February. Technology stocks were the worst offender, as even the biggest names went into a freefall.

The Dow Jones Industrial Average lost 3.2 percent of its value yesterday, logging its worst one-day drop since February. All 30 Dow stocks finished in the red. The S&P 500 index lost 3.3 percent, falling for its fifth straight day, its longest losing streak since November 2016.

The S&P’s losses were topped by the technology sector, which slid 4.8 percent, the steepest percentage drop since August 2011. The tech-heavy Nasdaq dropped more than 4 percent for its worst percentage decline since June 2016. Apple and Amazon both had their worst day in two and a half years.

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