Some investors fear the market is over-stretched in the context of higher inflation and rising bond yields as central banks withdraw their easy money policies of recent years. The Nasdaq plummeted 275 points to close at 6,777.
The percentage decline on Thursday, 4.2%, wasn't almost as bad as the scary days of the 2008 financial crisis.
U.S. stocks experienced their worst fall in more than six-years on Monday in what became a Wall Street plunge as all but two stocks closing in the red. "We've all enjoyed it", said Rich Guerrini, CEO of PNC Investments.
The 10-year Treasury yield briefly hit a four-year high of 2.88%, renewing concerns about inflation and higher interest rates.
That means they are in what is known on Wall Street as a "correction", fueled by fears that a long stretch of low interest rates and tame inflation, which helped driven up stock prices, might be coming to an end. "We all know that", said White House spokesman Raj Shah.
Many are bracing for more wild swings ahead as the Chicago Board Options Exchange Volatility Index is holding at twice its level from a week ago.
The latest decline takes the Dow, which is now down 3.5% this year, back to where it was on November 28, 2017.
President Trump continuously speaks on the gains Wall Street has recorded during his first year in office.
Figures across the board look fairly bleak compared to what they were at the closing bell February 2-the kickstart of recent downturn.
GOOGLEFTSE 100 price The FTSE 100 in the UK took a battering today
An index of Latin American shares was also up about 1 percent. That only happened eight times all of past year, the fewest since 1964, according to LPL.
The Australian share market, and other markets in the Asia-Pacific region, have fallen sharply as investors are again caught up in the turmoil on USA markets. "It can take two to three weeks to work through the system".
"In the 'old days, when good news was reported, the Stock Market would go up". The higher the RVOL the more In Play the stock is.
"We had an epic run. A very crowded trade, it just took a while to unwind that", said John Lynch, Chief Investment Strategist at LPL Financial (Frankfurt: A1JZ6S - news) in Charlotte, North Carolina.
Equities for years have looked relatively attractive compared to the low yields offered by bonds, but the rise in Treasury yields has diminished the allure of stocks, especially with stock valuations at historically expensive levels. Fast rising interest rates would make that argument much less persuasive. "Obviously people are reacting".
Still not convinced? After the crashes in 1987 and 2000, the Federal Reserve began to cut interest rates, which gave further gains to bonds. Inflation can also send bond yields higher, which makes it more expensive for individuals, companies and even the US government to borrow money.
New York Federal Reserve President Bill Dudley told Bloomberg News on Thursday that if the US economy keeps getting stronger the central bank may be justified in raising rates four times this year. Because pullbacks and corrections are actually extremely common on Wall Street.
"In the absence of a recession, a deep bear market is unlikely", he said. Investors are scared the economy may be accelerating too quickly, as wage growth is hinting at inflationary pressures, which are driving up interest rates, which in turn are spooking investors.
American authorities were informed last month that the militia might have apprehended Kotey and Elsheikh, according to the Times . Former child refugee Elsheikh was a mechanic from White City in west London, and Alexanda Kotey was from Paddington.
Thursday's wild National Basketball Association trade deadline has had long-reaching ramifications, extending far beyond the pros. After an abysmal start to the season in Cleveland , Thomas was traded to the Los Angeles Lakers before the trade deadline.
Channel 2 said police chose to make no recommendation and leave a decision on those charges up to the prosecutor's office. One reportedly concerns claims Mr Netanyahu improperly received lavish gifts from Hollywood and business figures.
Same-sex unions was legalised in May 2017 after the Supreme Court ruled in favour of a couple who sued for marriage rights. LGBT activists said the domestic partnership amounted to a second-class status for same-sex couples.
Sports manufacturers Nike on Wednesday in faraway London unveiled the Super Eagles' home and away kits for the 2018 World Cup . However, the kit refuses to veer away from tradition, with the away strip using the classic all green look of Nigeria .
David Bowie never made it into space, but somewhere up there right now Major Tom is having a moment while looking back down on us. By contrast, the scene of the Tesla in space "is something that's going to get people excited around the world.
He added that sanctions pressure would continue "until North Korea gets on a pathway to giving up its nuclear weapons". In allowing the ferry, Seoul treated it as an exception to the sanctions imposed on North Korea.
The Kennis brothers are experts in recreating scientifically accurate animals and humans, with a focus on human evolution . The team homed in on genes known to be linked to skin color, hair color and texture, and eye color.
When Trump visited Paris last July for Bastille Day, he made no secret of his awe for the pomp and ceremony of the occasion. In a statement quoted by CNN , White House Press Secretary Sarah Sanders confirmed the initial Washington Post report .
He said at least one customer who regularly bought B.C. wine asked for an alternative recommendation in light of the boycott. A move that would stall the Kinder Morgan Trans Mountain pipeline expansion.
Researchers grow human eggs in laboratory for the first time
Researchers must prove that the eggs cannot only mature, but do so without any abnormalities that could pose a risk to women. For the study, researchers at the University of Edinburgh took ovarian tissue from 10 people in their late 20s and 30s.
Texas police officer shot and killed while responding to call
Texas Governor Gregg Abbott responded on Twitter writing, "The hearts and soul of Texas mourn with you". "May God rest his soul". Richardson Police spokesman Kevin Perlich said police had received reports of a disturbance with shots fired just after 7 p.m.
Flu season expected to last another 4-6 weeks
Frequently wash your hands with warm water and soap, avoid touching your eyes, nose and mouth and avoid large crowds at all cost. Shereen Alikhan, a pediatrician, said doing so can especially help kids who are susceptible to getting sick.
Crucial iPhone source code leaks online
As per Motherboard , Jonathan Levin, an iOS and macOS expert, has called it the " biggest leak in history ". "It's a huge deal ". GitHub took it down shortly after it received the notice. "And now it's wide open in source code form", Levin continued.