The S&P 500 was down by 3.1% in morning trading and on track for its worst day in nearly two years. The Dow Jones Industrial Average was down 1,092 points, or 2.7%, as of 10:40 a.m. Eastern time, and the Nasdaq composite slid 3.6%.The drops were just the latest in a sell-off that swept the Earth. Japan’s Nikkei 225 helped start Monday by plunging 12.4% for its worst day since the Black Monday crash of 1987.It was the first chance for traders in Tokyo to react to Friday’s report showing U.S.
"Markets tend to move higher like they’re climbing stairs, and they go down like they’re falling out a window," according to JJ Kinahan, CEO of IG North America, who chalks much of the recent worries to euphoria around AI subsiding amid "a market that was ahead of itself."U.S. stocks briefly pared their losses a bit Monday after a report said growth for U.S. services businesses was a touch stronger than expected.
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