Unlike Bitcoin, Dow Jones Headed Down Again This Week By 1000 Points

US Markets Open After Global Stocks Slip

But stocks weren't the only group that suffered this week, as dollar-denominated gold and oil prices endured their worst weekly losses in two months and two years, respectively.

However even though the 1,175-point drop sounds like a lot, the fall on Monday did not amount to a market crash. Those included technology companies, banks, and retailers and travel companies and homebuilders. That's also a big change: The market has been stable in the past year because every time it inched lower, investors swooped in looking for bargains and soon sent them higher again. Positive U.S. economic data, such as stronger wage growth and low unemployment, has raised Wall Street's odds that Federal Reserve policymakers will raise interest rates faster than anticipated.

"There's going to be questions about whether that's tied in the minimum wage increases we've had in Ontario", Scott said. "They won't be able to provide that nice predictability and certainty that they provided ever since they started the rate hikes a few years ago".

In afternoon trading, the S&P 500 briefly broke below its 200-day moving average, a level seen as technical support, and then cut losses, a day after a plunge that confirmed a correction for the US market. Boeing, Goldman Sachs and Home Depot took some of the worst losses. The S&P 500 has fallen more than 10 percent since January, closing Thursday afternoon at 2,581. It hasn't been that low since mid-November.

The record one-day fall for the Dow was a 508-point drop in October 1987, which wiped more than 20 per cent off the value of the leading U.S. companies. Fearful investors sought to get out before their losses mounted. But perspective, and a deep breath, can go a long way in navigating these uncertainties. This reinforced the fear that the easy-money policies that were put in place to combat recession are now coming to an end.

Since the recent bull market began in early 2009, there had been four S&P 500 corrections before this year.

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USA stock markets confirmed they were in correction territory today after a week of wild swings. The U.S. Senate reached a bipartisan deal Wednesday that would boost spending limits by $300 billion over the next two years.

The U.S. flu season has been brutal this year, and could be on track to break some recent records, according to the Centers for Disease Control and Prevention. Skechers USA (SKX) climbed $2.88, or 7.5 percent, to $41.06.

IRobot, which makes Roomba vacuums, plummeted 32 percent after projected a smaller annual profit than Wall Street was expecting.

Often, the best days for the stock market follow big drops.

Twitter had a banner day, soaring 12 percent after turning in a profit for the first time. In fact, about 80% of the companies beat market expectations in their fourth quarter results. The stock rose $3.27 to $30.18. GrubHub stocks shot up by 27.4% after the online food delivery company announced a partnership with the parent company of KFC and Taco Bell, Yum Brands.

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