Dow Jones Industrial Average Down 1175.21; Steepest Intraday Point Drop in History

J.P. Morgan Strategist Gabriela Santos:

The Dow Jones industrial average dropped points on Monday February 5, 2018, erasing 2018 gains.

The Dow’s 4.6% drop Monday was the DJIA’s biggest drop in terms of points, but it had a larger percentage drop as recently in 2011.

The drop began Friday February 2, 2018 as investors worried that higher inflation and interest rates could signal or cause the end of the long-running rally.

At one point the Dow was down as much as 1,597.08 points.

The Dow ended at 24,345.75, down 8.5% from a record high of 26, 616.71 on January 26, 2018.

The Standard & Poor’s 500, the benchmark for many index funds, fell 113.19 points, or 4.10 percent, to 2,648. The Nasdaq fell 273.42, or 3.78 percent, to 6,967.53.

Bond prices rose, and the yield on the 10-year Treasury fell to 2.73 percent.

Virtu floor trader Matt Cheslock, The Price Futures Group’s Phil Flynn and Ambrosino Brothers’ Todd Colvin react to the market pullback and the Dow plummeting more than 1,000 points.

How this market pullback is different from 2008: CoinDesk Director of Research Nolan Bauerle and Greenberg Capital’s David Greenberg discuss whether Monday’s market selloff is similar to that of 2008.

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‘Retire Inspired’ author Chris Hogan on how the market selloff could impact your wallet.