Stock market news today: Nasdaq sinks 4%, 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 lost over 1,000 points. The Nasdaq Composite was crushed by over 6% after the tech-heavy index entered into a correction with Friday's sharp losses. The S&P 500 losses cascaded over 4%.

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 13%. Tesla plunged more than 10%. Crypto also took a beating, with Bitcoin sinking roughly 15% to creep back toward the $50,000 level.

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