Thursday, October 1, 2020
No menu items!

Wall Street tumbles again as S&P, Dow confirm correction

The benchmark S&P 500 and the Dow industrials confirmed they were in correction territory, both falling more than 10 percent from their Jan. 26 record highs. The S&P 500 slumped 3.8 percent on Thursday, while the Dow dropped 4.2 percent as losses accelerated late in the trading day.

Thursday marked another day of sharp swings in recent sessions including the S&P 500’s biggest drop in more than six years that pulled equities away from record highs.

Jaime Desmond, Chief Operating Officer and Senior Vice President at Ladenburg Thalmann Asset Management said she believes the recent volatility is “mostly driven by algorithms and technical trading.”

“Fundamentally the economy is still really strong,” she added.

The Dow Jones Industrial Average fell 1,032.89 points, or 4.15 percent, to 23,860.46, the S&P 500 lost 100.66 points, or 3.75 percent, to 2,581 and the Nasdaq Composite dropped 274.83 points, or 3.9 percent, to 6,777.16.

Latest News

Gov. Abbott issues Proclamation Enhancing Ballot Security

HARRIS COUNTY, TX - Governor Greg Abbott today issued a proclamation enhancing ballot security protocols for the...

HAVE YOU SEEN HIM? Man with dementia missing from an urgent care center

HOUSTON, TX – The Houston Police and Texas Equusearch are asking for help to locate a missing dementia patient who was last...

St. Joseph hospital sues Harris County Sheriff’s Office over the cost of inmate care

HOUSTON, TX - A downtown Houston hospital this week sued the Harris County Sheriff’s Office, claiming the law enforcement agency owes...

Venomous coral snake spotted at Memorial Park

HOUSTON TX - 'Watch your step out there!” Redditor Christian Seehausen wrote out to alert his...

High School football returns this weekend!

HOUSTON, TX - High school sports are back!! The Houston Independent School District will host its first varsity game tonight.

More Articles Like This