The Dow plummets for a second straight day as Nasdaq flirts with correction
Wall Street had another rough day on Thursday, with the tech-heavy Nasdaq index dipping into correction territory and the Dow Jones closing 548 points down after another day of market convulsions.
Following a rocky morning of premarket trading, the major exchanges had pared their losses by midday and looked set to regain their footing. However, by mid-afternoon, the sell-off had intensified: All 11 sectors of the S&P were trading lower, the Dow had plunged by 699 points, and the CBOE Volatility Index, Wall Street’s “fear gauge,” hit its highest level since February.
Could this be the first ‘bubble’ to go ‘pop’?