Dow Jones Regains Some Losses, Closes Up More Than 500 Points

Dow Jones Regains Some Losses, Closes Up More Than 500 Points

Dow Jones Regains Some Losses, Closes Up More Than 500 Points

Despite traders attempting to fix the damage, at close the Dow remained down by 1,175 points, the worst closing point decline ever recorded.

On Friday, stock markets around the world that opened ahead of the USA trading day were in sell-off mode.

Unlike Dow's drop on Monday, which was the largest intraday drop in about 6years, Thursday's fall did not correlate with the bitcoin markets as strongly. Those stocks are often seen as substitutes for bonds because they tend not to fluctuate that much in price and provide steady income.

A correction happens when a stock, bond, commodity or index declines 10 percent from a recent peak. The Nasdaq lost 274 points on the day (3.9 percent), while the S&P 500 closed with a 100-point loss (3.75 percent).Thursday's close is the second time in history the Dow has lost more than 1,000 points in one day.

By early afternoon the Dow Jones had tumbled by more than 600 points, while the S&P had shed 2 per cent. MGM Resorts International was down $1.18, or 3.4 percent, to $33.50. The yield on the 10-year Treasury note was unchanged at 2.80 percent.

Why is it called the Dow Jones Industrial Average? .

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The market's main gauge of volatility, the CBOE Volatility Index, fell to 29.82 on Thursday, more than twice what it was a week ago but down off a two-and-a-half year high above 50 points hit on Tuesday.

Bitcoin fell again on February 6 by 12 percent and was valued below $6,000 for the first time in 2018.

Those losses came as little surprise, with moves in major United States markets providing the cue for global investors. He also said 3.05 percent is a key level to watch on the 10-year.

The sell-off in US stocks this week spread to markets in Asia and Europe, reviving use of the term "contagion", which was widely used during the European debt crisis early this decade.

USA stock index futures pointed to a higher open Friday, a day after both the Dow Jones industrial average and the S&P 500 fell into correction territory.

Some of the market's biggest winners over the past year were leading the market higher. Other benchmark indexes kept their losses below 2 percent. Even with the rebound, the Dow has fallen 6.4 percent since the record set on Jan 26. And on Thursday's opening bell, it moved from positive to negative, and dropped sharply. The S&P 500 was up 14 points (0.6%), and the Nasdaq was up 41 points (0.6%).

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