NOT MY pres drumpf/trump hasn't been bragging about the biggest decline in the stock market, wonder why???? He loves to run his YUGE mouth about the biggest this and that but he has one of satan's minions, NOT MY vice-pres pence, trying to explain what is going on and calm the electorate and market. Th problem is these people constantly lie and deceive so can they be believed? AND the Dow lost 666 points last Friday, who could be responsible for that, NOT MY pre drumpf/trump and Satan? WELL, ISN'T THAT SPECIAL!?!?!?
Dow Drops 666 Points In Sharp Sell-Off
Updated at 6:01 p.m. ET
Major stock indexes dropped sharply Friday, with the Dow Jones industrial average tumbling 666 points amid signs that wage growth is finally picking up.
The 2.6 percent drop in the Dow came as the Labor Department reported that 200,000 jobs were added to the economy last month, which was stronger than expected, and the unemployment rate stayed at 4.1 percent — the lowest since 2000.
But worries about inflation grew when the report showed that average hourly wages grew 2.9 percent from a year ago — the largest increase since June 2009. Yields for 10-year Treasurys hit four-year highs Friday.
All this sets the stage for the Federal Reserve to continue raising interest rates, with the next hike expected in March. That would make credit cards, car loans and mortgages more expensive.
The Dow closed at 25,520.96, and Friday's 666-point drop was the sixth-worst ever. The index is still up more than 3 percent since the year began. But with a loss of about more than 1,000 points since Monday, it was the blue chip index's worst weekly performance in two years.
Among the stocks in the Dow, Apple fell 4.3 percent Friday, Exxon Mobil lost 5.1 percent, Chevron was down nearly 6 percent and Goldman Sachs dropped 4.5 percent.
Other major stock indexes fell about 2 percent Friday. The broader S&P 500 slid 60 points, to 2,762.13; the Nasdaq index lost 145 points, closing at 7,240.95.
Carl Tannenbaum, chief economist at Northern Trust, says Friday's employment report shows the economy continues to have a lot of energy.
The higher wage growth and potentially higher inflation "might then lead the Federal Reserve to raise their interest rates more rapidly than the market is comfortable with," he told NPR's John Ydstie.
NPR's Jim Zarroli reports that the wage gains have investors wondering "are we going too fast? Are we going to see more inflation? ... Then you have these big tax cuts taking effect, which means people could be spending more. The government's going to have to borrow more — what's that going to mean?"
But, he says, "The stock market was really due to come down anyway. We have these corrections. They're normal. You can't have stocks rising at these levels all the time."
Dow Plunges 1,175, The Biggest Point Drop In History
Updated at 4:55 p.m. ET
The stock market went on a wild ride again on Monday, with the Dow Jones industrial average closing down 1,175 points, its worst point drop in history. The Dow closed down 4.6 percent and turned negative for the year.
At one point Monday afternoon, the Dow was down 1,579 points — the largest intraday point drop in the history of the index.
"Investors were dumping out of stocks," NPR's Uri Berliner reports. "They were in free fall, something we've seen very little of during the steady bull market since basically 2009. And now we're seeing nerves in the market — some fear."
The previous largest point drop for the Dow was 778 points in September 2008, in the midst of the financial crisis.
Market participants were focused on the threat of higher inflation after Friday's jobs report showed a pickup in wages, which portends more interest rate increases from the Federal Reserve.
"I think we are in a changing environment where it looks like we're going to have a bit higher inflation and so that has markets on edge," Gus Faucher, chief economist of the PNC Financial Services Group, told NPR's Windsor Johnston. "And I think volatility is likely to be higher in 2018 than it was in 2017."
Analysts suggest that program trading caused the wild sell-off, NPR's John Ydstie reported. "As quickly as the market fell, it recovered much of the ground it had lost as investors remembered the economy and corporate earnings remain strong," he added.
The Dow closed at 24,345.75. Monday's losses came on top of Friday's 666-point dropin the blue-chip index, which resulted in the worst week for the index in two years.
Other major stock indexes also fell Monday, with the S&P 500 down 113 points, or 4.1 percent, and the Nasdaq down 273 points, or 3.8 percent.
Many financial professionals say this sell-off is healthy for the market. Stock prices letting off steam is "better than if they continue to rise and then pop like a balloon that's overinflated," Berliner says. "But if fear takes over the market then it could get quite ugly."
In the past week, both the Dow and the S&P 500 have now lost over 5 percent from their recent all-time highs.
Stock indexes around the world also fell Monday, including London's FTSE 100, which closed down 1.5 percent, and Japan's Nikkei, which fell 2.5 percent.
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