Dow plunges 1,000 points as stock market swoons again [CBC (Canadian Broadcasting Corporation)]
S&P Global Inc. (SPGI)
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Source: CBC
Dow plunges 1,000 points as stock market swoons again S&P/TSX composite index drops by 265.03 points, or 1.7 per cent The Dow Jones industrial average plunged more than 1,000 points as a weeklong market swoon continued. The Dow is 10 per cent below the record high it set just two weeks ago, putting it in what is known on Wall Street as a "correction." The Standard & Poor's 500, the benchmark for many index funds, is also 10 per cent below the record high it set recently. Worries about inflation set the market rout in motion last Friday, and many market watchers have been predicting a pullback after the market's relentless march higher over the past year The market fell steadily as Thursday wore on and is on track for its fifth loss in the last six days. Many of the companies that led the market's gains over the last year have struggled badly in the last week. Those including technology companies, banks, and retailers and travel companies and homebuilders. Stock trading turned volatile
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