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.
