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The shaky Dow Jones continues to slide.
The index dropped 680 points before recovering slightly Thursday afternoon, confirming predictions that the stock market will remain volatile as it rebounds from a historic drop earlier this week.
The Dow was down just shy 450 points, or about 2%, with a few hours to go before the closing bell. The dent comes after the Dow’s massive 1,175 points plunge on Monday — the largest in history points-wise.
The benchmark Standard & Poor’s 500 index followed suit, dropping about 44 points, or 1.7% as of 2 p.m. The Nasdaq, meanwhile, lost about 125, or 1.8%.
Dow Jones opens with 100-point drop before resurging
Traders work on the floor of the New York Stock Exchange on Thursday.
(BRENDAN MCDERMID/REUTERS)
Investors have worried since last week that rising interest rates signals an impending surge in inflation — a trend that upsets the stock market and prompts volatility.
The downwards market spiral comes amid otherwise positive economic trends, such as low unemployment and rising wages.
President Trump, who has been keen on taking credit for stock market booms since taking office, has stayed conspicuously mum on the recent downswing.
On Thursday, Trump commented on the stock market for the first time since it started to plummet last week, seemingly blaming the plunge on negative news coverage.
Dow bounces back over 560 points after record low
Trader Michael Milano (r.) works on the stock exchange floor.
(Richard Drew/AP)
“In the ‘old days,’ when good news was reported, the Stock Market would go up,” Trump tweeted. “Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!”
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