Stocks take another tumble, Dow dives more than 1000 points

Global Stocks Plunge After US Selloff

Here's one more trick: During times when stocks decline by 5 percent or more, increase the amounts you're regularly investing, and after similar market increases, scale back those amounts.

The Dow Jones Industrial Average tumbled about 4.15% to 23,860, notching its second-worst point drop in history.

US stocks pulled back on Wednesday after heavy selling lifted the 10-year Treasury yield back to 2.85%, matching a four-year high.

JOHN YDSTIE, BYLINE: The market did regained close to half its deep Monday loss on Tuesday.

The S&P 500 dropped 100.6 points or 3.75% to 2,581, while the Nasdaq slid 274.8 points or 3.9% to 6,777.1.

Other major US stock indexes also rebounded Tuesday, with the S&P 500 finishing up 46 points, or 1.7 percent, and the Nasdaq up 148 points, or 2.1 percent. The Nasdaq composite rose 21 points, or 0.3 percent, to 6,989.

After huge gains in the first weeks of this year, stocks started to tumble last Friday after the Labor Department said workers' wages grew at a fast rate in January. The Nasdaq slumped nearly 1%, while the S&P 500 fell modestly.

The losses are piling up, but one Wall Street pro says the financial pain must be put in proper perspective. The S&P correction is the fifth of this bull market, according to Yardeni Research.

It's a big shift from 2017 and the beginning of 2018, when the stock market went the longest period ever without tumbling. Markets can not be one way. Numerous companies that rose the most over the past year have borne the brunt of the selling. Those included technology companies, banks, and retailers and travel companies and homebuilders. Employers are hiring at a healthy pace, with unemployment at a 17-year low of 4.1 percent.

The most memorable bear market of recent times was the global financial crisis, when the Dow Jones dropped more than 50 per cent between October 2007 and March 2009. He said assets like stocks that are valued off of bonds are "vulnerable too".

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The market mood turned decidedly fearful the last two days.

USA stocks swooned Friday and Monday as investors anxious that accelerating inflation and higher interest rates could derail the market's record-setting rally.

That usually means that the Federal Reserve will start increasing interest rates.

Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management, said the plunge wasn't caused by inflation fears alone.

Global financial markets were a lot calmer Wednesday.

Worries about future inflation and rising interest rates also weighed on the market again Thursday. "Corrections are caused by people having to reposition for new environments". They also present an alternative to investors who may reallocate some funds to bonds from equities.

More: Economy is up? The market's main gauge of volatility, the Cboe Volatility Index.VIX, rose 5.73 to 33.46 on Thursday, about three times the average level of the past year.

USA crude oil fell 76 cents, or 1.2 percent, to close at $63.39 a barrel in NY.

The Standard & Poor's 500 index gave up 77 points, or 2.9 percent, to 2,603. The TSX is down 8.2 per cent from its all-time high of 16,412.94, set on January 4.

In other commodities trading, wholesale gasoline remained at $1.77 a gallon. Natural gas added 1 cent to $2.76 per 1,000 cubic feet. American Express and Intel were the two biggest losers on the Dow. South Korea's Kospi gained 0.5 percent and the Hang Seng of Hong Kong rose 0.4 percent. Germany and France fell 2.6% and 2% respectively.

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