It was another rough day on Wall Street yesterday: The Dow Jones Industrial Average fell 4.4 percent, the S&P 500 fell 4.4 percent, while the Nasdaq Composite dropped 4.6 percent. The Dow had its worst day since February 2018 while the Nasdaq and S&P 500 posted their biggest one-day losses since August 2011.
It was also the Dow’s biggest one-day point decline in history, surpassing Monday’s 1,031-point drop. The Dow and S&P 500 are now on pace for their worst weekly performance since 2008. Through yesterday’s close, the Dow was down more than 11 percent week to date while the S&P 500 had lost 10.8 percent.
Yesterday’s losses put the Dow, S&P 500 and Nasdaq in correction territory, which is defined as down more than 10 percent from a recent high. The S&P 500 and Nasdaq set record highs just last week. It took the Dow just 10 sessions to tumble from its all-time high into a correction.
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