Dow tumbles more than 600 points at Monday close, following three straight weeks of losses
Asian markets are in turmoil and the Federal Reserve has investors nervous
U.S. stocks shed more than 600 points as the markets closed Monday. This recent plummet comes as emerging risks continue to become the September story for Wall Street.
The Dow Jones Industrial Average fell 614 points – its biggest single-day drop since mid-July. The S&P 500 lost 2.7%, while the tech-oriented Nasdaq Composite dropped a whopping 3.3%.
The sell-off comes as a result of a number of investor concerns. On Tuesday, the Federal Reserve will begin a two-day meeting, which investors are worried will result in a decision that will pull stimulus funds as inflation continues to surge.
Additionally, China's indebted property market is now rippling across global markets, causing big sell-offs in America and Europe that followed a massive sell-off during Asia's Monday trading session.
It is also now time for Congress to rush to raise the debt ceiling as a potential government shutdown looms amid continued partisan fighting and political deadlock.
Just News, No Noise
- National Guardsman with religious objection given COVID-19 vaccine instead of flu shot
- FDA to publish study on potential adverse COVID vaccine events in elderly: report
- Enemies list? Fed-backed censorship machine targeted 20 news sites
- Jan. 6 committee chair: Public hearing next week, no final report before election
- Hundreds of Virginians have had firearms confiscated through red-flag laws