'The Dow Jones industrial average plunged by 1,175 points, its largest single-day points drop in history.
Newfound market volatility has shattered what had been a long period of stability and mounting value. The Dow's dive erased gains for the year so far and extended a multi-day slump that saw the Dow drop by some 600 points on Friday.
In addition setting a new record for number of points dropped in a day, the Dow's 4.6 per cent decline in value was the most substantial since 2011. It was still less severe than declines during market-rocking events like the 2008 financial crisis, when the Dow shed 7 per cent of its value in its worst single-day hit.
Earlier in the day the Dow had plummeted by nearly 1,600 points before recovering much of that value. It has swung some 2,100 points in the last week of trading, a slide approaching 8 per cent.
In addition to the Dow shedding value, the Standards and Poor 500 (S&P 500) index and the Nasdaq both saw declines of around 4 per cent. The S&P 500 declined to about 7.8 per cent below its all-time high.
With thriving markets toppling records in recent months, some analysts said the pullback was all but inevitable. After cresting to a record high in January, the Dow has retreated by 8.5 per cent from that apex.'
Read more: Dow Jones hit by biggest single-day points drop ever
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2 September 2015
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