The Dow Jones Industrial Average fell almost 1,600 points for its biggest intraday drop in history in points terms, or more than 6 percent, before ending down 1,175.21 points, or 4.6 percent, its biggest one day fall since August 2011.
The Dow Jones Industrial Average closed down by 1,175 points, or 4.6 per cent, its biggest fall in more than six years. Monday's losses came on top of Friday's 666-point drop in the blue-chip index, which resulted in the worst week for the index in two years. The world's most valuable company entered correction territory Friday, falling 10% from its recent 52-week high.
The local benchmark S&P/ASX200 index was down 2.7 per cent at 5,861.1 points after the first half-hour of trade on Tuesday, with all sectors weaker.
US financial markets are bracing for another volatile day.
Curatolo replied that even after those words, the stock market continues a steady increase for the following four years.
USA stocks are reversing course Tuesday morning after sharp losses in the first few minutes of trading, raising hopes of a halt to a global sell-off in the stock market. The robust jobs report last week fueled hopes that wage growth would follow.
With Monday's declines, the S&P 500 erased its gains for 2018 and is now down 0.9 percent in 2018.
In a volatile day on Wall Street, the Dow fell by about 1,600 points before closing at 1,175 points.
The pace of the sell-off quickened on Friday, after strong USA jobs data prompted investors to reassess the pace of interest rate rises from the Federal Reserve, before descending into panic in late United States afternoon trading yesterday. "This isn't a concern that markets aren't going to do well, or that corporate America isn't going to do well", she said. Economists said investors are nervous about inflation and interest rate hikes. "You're seeing real changes occur and different investments are adjusting to that", O'Rourke said.
The Dow Jones Industrial Average fell 34.37 points, or 0.14 per cent, to 24,311.38, the S&P 500 lost 7.95 points, or 0.30 per cent, to 2,640.99 and the Nasdaq Composite dropped 17.12 points, or 0.25 per cent, to 6,950.41. The S&P 500 is down nearly 8 per cent from its all-time high, CNN reported.
The Nasdaq composite fell 3.8 percent to 6,967.53.
But over the past three-plus decades, investors have endured a number of bigger percentage drops in the stock market.
"The bloodbath on Wall Street, which was repeated in Asia, has seen confidence evaporate in Europe".
With the Federal Reserve now well on course to raise rates back to pre-crisis levels, however, some investors say the market is over-stretched.
The drop in early trading Tuesday marked the third straight day of steep declines.