Markets Right Now: U.S. Stocks Slump on Day of Wide Swings
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are slumping for a second straight day as the market endures its most volatile stretch since February.
The Dow Jones industrials fell 545 points, or 2.1 percent, to 25,052.83 and the benchmark S&P 500 dropped 57 points, or 2.1 percent, to 2,728.37. Both indexes have fallen more than 5 percent the past two days.
This marks the sixth straight day of losses for the market, which has been rattled by rising interest rates, signs of a slowdown in the global economy and the U.S.-China trade dispute.
All of those factors could threaten the impressive profits Corporate America has been reporting this year.
All 11 sectors in the S&P 500 were lower, with banks and energy stocks the hardest hit.
The Nasdaq fell 92 points, or 1.3 percent, to 7,329.06. The Russell 2000 dropped 25 points, or 1.6 percent, to 1,550.25.