Stock market news today: Nasdaq sinks 3%, Dow cascades down as global sell-off intensifies

Wall Street's stock sell-off intensified in a major way Monday as concerns mounted over the health of the US economy. The Dow Jones Industrial Average fell more 1,000 points before paring some of its losses. The Nasdaq Composite was crushed by over 3% after the tech-heavy index entered into a correction with Friday's sharp losses. The S&P 500 losses cascaded over 2.5%.

5% by its September meeting, according to the CME FedWatch tool. Some of the biggest companies in the stock market saw their values plummet at the open. Apple declined more than 9% amid the sell-off, and also after news that Berkshire Hathaway had cut its stake in the company in half. Nvidia's pull back continued, as it dropped as much as 13% before paring losses. Tesla plunged more than 6%. Crypto also took a beating, with Bitcoin sinking roughly 15% to creep back toward the $50,000 level.

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