Dow plunges 1000 points, erases Wednesday’s rally
US stocks recorded their worst trading session since 2020, erasing a three-day rally, a day after the Federal Reserve raised the interest rates by 50 basis points.
By Yashasvini Razdan
Published - May 06, 2022, 01:18 AM ET
Last Updated - Feb 27, 2024, 07:13 AM EST
• The Dow Jones fell 1,063.09 points, or 3.1%, ending at 32,997.97
US stocks recorded their worst trading session since 2020, erasing a three-day rally, a day after the Federal Reserve raised the interest rates by 50 basis points.
The Dow Jones Industrial Average fell 1,063.09 points, or 3.1%, ending at 32,997.97, its worst daily percentage drop since October 28, 2020.
The S&P 500 slipped by 153.30 points, or 3.6%, to finish at 4,146.87, while the Nasdaq Composite lost 647.16 points, or 5%, closing at 12,317.69, marking its worst daily percentage fall since June 11, 2020.
