Another Bad Day Pushes DOW into Correction Territory
New York, NY (KROC-AM News) - This week’s crazy ride on Wall Street continued Thursday as sell orders came flooding in and pushed the Dow Jones industrial average down by over 1000 points.
At the closing bell, the blue chippers were off 1033 points to close at 23,860. It marked the second time this week the DOW has lost over 4-percent of its value in a single trading session. On Monday, the record 1175 point loss pushed the big stock index down about 4.5-percent. Overall, since the DOW peaked late last month, it has lost about 10-percent of its value and is now officially in what is known as correction territory.
The S&P 500 also moved into correction territory today with a 100 point drop to 2581, while the NASDAQ index fell 274 points, or nearly 4-percent, to finish the day at 6,777.
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