Benchmark Index Plunges Amid Investor Concerns
The S&P 500 declined sharply by Monday’s market close, despite easing off its session lows. The benchmark index lost a staggering $1.3 trillion in market value on Monday, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. Stocks ended a turbulent trading session on a dour note as investors feared that the US economy is on shaky legs.
Dow and Nasdaq Also See Significant Drops
The Dow plunged 1,034 points, or 2.6%. The S&P 500 dived 3% and the Nasdaq Composite slid 3.4%. The blue-chip Dow and benchmark S&P 500 index notched their biggest daily percentage loss since 2022, when the Federal Reserve’s aggressive rate-hiking cycle helped send the S&P 500 into a bear market. Monday marks just the 15th time the Dow has shed more than 1,000 points in a single session, according to FactSet data.
Global Markets Impacted by US Economic Worries
Also on Monday, Japanese stocks suffered their biggest daily losses since 1987 as fears about a US economic slowdown sent shock waves through global markets.
