Wall Street suffers worst day in nearly two years after global sell-off | US economy
Wall Street suffered its worst day in almost two years after a global stock market sell-off sparked by fears of recession in the US.
America’s leading share indices – the S&P 500, Dow Jones industrial average and Nasdaq Composite – tumbled in volatile trading as the day started in New York, before pulling back slightly.
The S&P finished down 3%, its biggest daily drop since September 2022, at 5,186.33. The Dow closed down 2.6% at 38,704.06, having shed more than 1,000 points. The Nasdaq ended down 3.4% at 16,200.08.
It comes just weeks after each of the indices last scaled record highs, following a months-long boom in the market. The benchmark S&P remains up more than 9% since the turn of the year.
Monday’s international rout began…
