ZB ZB
Live now
Start time
Playing for
End time
Listen live
Listen to NAME OF STATION
Up next
Listen live on
ZB

Wall St stocks plunge again

Author
Reuters,
Publish Date
Fri, 9 Feb 2018, 1:26PM
Photo / Getty Images
Photo / Getty Images

Wall St stocks plunge again

Author
Reuters,
Publish Date
Fri, 9 Feb 2018, 1:26PM

US stocks have plunged anew in another trading session with big swings as equities remained in a tug-of-war with bond yields, volatility remained high and investors failed to see a bottom of the market ahead.

The benchmark S&P 500 and the Dow industrials confirmed they were in correction territory on Thursday, both falling more than 10 per cent from their January 26 record highs.

The S&P 500 slumped 3.8 per cent, while the Dow dropped 4.2 per cent as losses accelerated late in the trading day.

Thursday marked another day of sharp swings in recent sessions including the S&P 500's biggest drop in more than six years that pulled equities away from record highs.

"The dust hasn't settled yet and I think both buyers and sellers are trying to figure out what this market really wants to do," said Jonathan Corpina, senior managing partner for Meridian Equity Partners in New York.

"I would think that this continues to happen for the next few trading sessions for everything to kind of get flushed out."

The Dow Jones Industrial Average fell 1,032.89 points, or 4.15 per cent, to 23,860.46, the S&P 500 lost 100.66 points, or 3.75 per cent, to 2,581 and the Nasdaq Composite dropped 274.83 points, or 3.9 per cent, to 6,777.16.

Take your Radio, Podcasts and Music with you