Dow plunges more than 1,100, largest single-day point drop in history

Dow plunges more than 1,100, largest single-day point drop in history

The Dow Jones Industrial Average plunged 1,175 points on Monday, its largest one-day point drop in history, to close at 24,345 — a decline of 4.6 percent.  At one point, the Dow was down more than 1,600 points before slightly rebounding at the closing bell. The previous record decline for the Dow came on Sept. 29, 2008, at the height of the global financial crisis, when it fell 778 points. The Dow is still up 21

percent compared to a year ago. Health care, energy and financial stocks posted the largest declines. All 11 sectors of the S&P 500 were down. The S&P 500 slumped 4.1 percent to 2,648. The Nasdaq dropped 3.78 percent to 6,967.Randy Frederick, vice president of trading and derivatives for Charles Schwab, told ABC News the fall had been expected after markets hit record highs. READ MORE



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