US Stocks Plunge: Dow Jones and Standard and Poor’s Indices Slide

(3 Minutes Read)

The Dow Jones Industrial Average fell 890.01 points, or 2.08 percent, to 41,911.71. The Standard and Poor’s 500 dropped 155.64 points, or 2.70 percent, closing at 5,614.56. The Nasdaq Composite Index tumbled 727.90 points, or 4.00 percent, to 17,468.33, its worst day since 2022.

U.S. stocks plunged on Monday and Tuesday as investors grappled with mounting concerns over the health of the U.S. economy. The Dow Jones Industrial Average fell 890.01 points, or 2.08 percent, to 41,911.71. The Standard and Poor’s 500 dropped 155.64 points, or 2.70 percent, closing at 5,614.56. The Nasdaq Composite Index tumbled 727.90 points, or 4.00 percent, to 17,468.33, its worst day since 2022.

Nine of the 11 primary Standard and Poor’s 500 sectors ended in the red, with technology and consumer discretionary suffering the steepest declines, falling 4.34 percent and 3.90 percent, respectively. In contrast, utilities and energy managed to post modest gains of 1.04 percent and 0.95 percent.

Investor unease was fueled by the recent comments from U.S. President Donald Trump, who acknowledged the possibility of a rough economic patch ahead. U.S. Treasury Secretary Scott Bessent said earlier that the economy might experience a “detox period” as the new administration implements government spending cuts.

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The technology-heavy Nasdaq recorded its worst day since 2022, as major players like Nvidia, Apple, Alphabet, and Meta each fell over 4 percent, with Tesla plunging 15.43 percent. The Standard and Poor’s 500 has now erased all the gains it had made since Election Day in early November last year. The Nasdaq has been hit even harder, as a rally in big tech stocks driven by enthusiasm for artificial intelligence reversed course.