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Monday, June 24, 2024

Why the Dow just tumbled about 500 points after nearly hitting a record

Why the Dow just tumbled about 500 points after nearly hitting a record

By David Goldman, CNN

WashingtonCNN — 

What. Just. Happened?

The S&P 500, the broadest measure of the stock market, tumbled Wednesday afternoon, starting just after 2 pm ET. It was on pace to hit a record — its first in nearly two years.

Then, the bottom fell out. Within minutes, the index was down a half a percentage point. Within an hour, it had fallen more than 1%, and it ended the day down nearly 1.5%. The Dow, which had been up nearly 100 points, ended the day almost 500 points lower.

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