Dow falls by 900 points for worst day of the year
BISMARCK, N.D. (KFYR) - Stocks in the U.S. dropped sharply as trading began Friday. The Dow Jones Industrial Average dropped more than a thousand points at its lowest, and ended down nine hundred points, for its worst day this year. Experts say traders were influenced by the discovery of a new COVID variant.
“Markets are hypersensitive right now with inflation and any bad news just kind of exacerbated the whole situation. We’re not really trading on any numbers or anything, it’s pure emotion right now, that’s why we see the market moving so much,” said David Wald, president of Securian Financial.
In addition to the Dow’s thousand-point drop, the S&P 500 and Nasdaq Composite were down 2.3% and 2.2%, respectively. The European Union called for its member countries to halt travel to affected nations, which caused airline stocks to fall by as much as nine percent.
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