Dow Jones Plunges More Than 1,000 Points Amid Global Market Selloff

U.S. stocks took a nosedive on Monday morning amid a worldwide stock market selloff as fears of a possible U.S. recession have mounted in recent days.

The Dow Jones Industrial Average dropped 1,072 points, or 2.7 percent, soon after the market opened on 9:30 a.m. ET, following a 611-point loss on Aug. 2. The S&P 500 dropped 4.1 percent, and the Nasdaq Composite sank by 6.3 percent moments after the opening bell.

But the markets pared some of their earlier losses by mid-morning on Monday. By 10:10 a.m. ET, the Dow was down 949 points, while the Nasdaq was down 3.92 percent. The S&P 500, meanwhile, shored up some of its losses and was down 3.1 percent.

The Dow Jones’s worst drop in history in terms of points came in the early part of the COVID-19 pandemic. At that time, it plunged 2,997 points on March 16, 2020, or 12.9 percent.

Other than the Great Depression’s start in 1929, the worst U.S. stock market crash came on Oct. 19, 1987, when the Dow Jones plunged 22.6 percent in what is now known as “Black Monday.”

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