Dow suffers largest daily point decline in history with 1,175 drop
- 6 years ago
NEW YORK CITY — The U.S. stock market went into a panic attack this week, sending the Dow spiraling down into its biggest point drop in history.
The Washington Post reports that on Monday, the Dow Jones Industrial Average went negative after dropping 1,175 points or 4.6%.
The sell-off began after the Department of Labor released its monthly report detailing the addition of 200,000 more jobs and a 2.9% increase in wages.
The robust report likely worried investors into thinking inflation would rise quickly, stoking fears that the Federal Reserve would then keep it in check by raising interest rates up to 3%.
Fortunately, at least for now, those fears are exactly that- fears.Experts say the U.S. economy is in good shape, and while stock prices probably won't be skyrocketing anytime soon, they probably won't be crashing either.
The Washington Post reports that on Monday, the Dow Jones Industrial Average went negative after dropping 1,175 points or 4.6%.
The sell-off began after the Department of Labor released its monthly report detailing the addition of 200,000 more jobs and a 2.9% increase in wages.
The robust report likely worried investors into thinking inflation would rise quickly, stoking fears that the Federal Reserve would then keep it in check by raising interest rates up to 3%.
Fortunately, at least for now, those fears are exactly that- fears.Experts say the U.S. economy is in good shape, and while stock prices probably won't be skyrocketing anytime soon, they probably won't be crashing either.