Dow suffers biggest points loss in history, dropping 4.6 per cent and wiping out 2018 gains
The 1,175-point loss surpasses the previous worst drop of 778 points in September 2008, during the financial crisis
The Dow suffered its biggest points loss in history on Monday as it dropped 1,579 points, then managed a meagre rally to close at 1,175 - wiping out all gains that had been made in 2018.
That beat the previous worst drop of 778 points in September 2008, during the financial crisis - although that slump was worse in terms of percentage loss.
The 4.6 per cent loss took the Dow industrials back below 25,000, as a pullback from record highs deepened and investors grappled with rising bond yields and potentially firming inflation.
The S&P 500 also dropped sharply, ending the day down by 4 per cent.
The energy, financials and health care sectors fell the most, but declines were spread broadly as all major 11 S&P groups dropped.