• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    US Dow Jones slumps 1000 points

    By Chennabasaveshwar
    |

    Amid worries over inflation and interest rates US Dow Jones index slumped 1,000 points on Friday for the second time in a week. The Dow index is 10 percent below the record high it set just two weeks ago, putting it in what is known on Wall Street as a "correction."

    US Dow Jones slumps 1000 points

    According to AP news agency, the Standard and Poor's 500, the benchmark for many index funds, is also 10 percent below the record high it set two weeks ago.

    Worries about inflation set the market rout in motion last Friday, and many market watchers have been predicting a pullback after the market's relentless march higher over the past year.

    The Dow dropped 1,032 points, or 4.1 percent, to 23,860. The Nasdaq lost 274 points, or 3.9 percent, to 6,777.

    OneIndia News

    For Daily Alerts

    For Breaking News from Oneindia
    Get instant news updates throughout the day.

    Notification Settings X
    Time Settings
    Done
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more