{"id":41066,"date":"2018-02-06T03:58:27","date_gmt":"2018-02-06T09:58:27","guid":{"rendered":"https:\/\/www.crescentcityjewishnews.com\/?p=41066"},"modified":"2018-02-06T03:59:31","modified_gmt":"2018-02-06T09:59:31","slug":"wall-street-takes-a-dive-dow-drops-1175-points","status":"publish","type":"post","link":"https:\/\/www.crescentcityjewishnews.com\/blog\/wall-street-takes-a-dive-dow-drops-1175-points\/","title":{"rendered":"Wall Street takes a dive; Dow drops 1175 points"},"content":{"rendered":"<p>By ALAN SMASON<\/p>\n<p>Wall Street suffered its largest point drop in history on Monday when it posted a 1,175 point loss for the day in the Dow Jones Industrial Average. This represents a 4.61% loss in the market and coupled with a 600-point selloff on Friday, means that all of the year&#8217;s gains have been wiped out.<\/p>\n<div id=\"attachment_41071\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-content\/uploads\/2018\/02\/decline.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-41071\" class=\"wp-image-41071 size-medium lazyload\" data-src=\"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-content\/uploads\/2018\/02\/decline-300x215.jpg\" alt=\"\" width=\"300\" height=\"215\" data-srcset=\"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-content\/uploads\/2018\/02\/decline-300x215.jpg 300w, https:\/\/www.crescentcityjewishnews.com\/blog\/wp-content\/uploads\/2018\/02\/decline-768x551.jpg 768w, https:\/\/www.crescentcityjewishnews.com\/blog\/wp-content\/uploads\/2018\/02\/decline.jpg 781w\" data-sizes=\"(max-width: 300px) 100vw, 300px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/215;\" \/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-41071\" class=\"wp-image-41071 size-medium\" src=\"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-content\/uploads\/2018\/02\/decline-300x215.jpg\" alt=\"\" width=\"300\" height=\"215\" srcset=\"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-content\/uploads\/2018\/02\/decline-300x215.jpg 300w, https:\/\/www.crescentcityjewishnews.com\/blog\/wp-content\/uploads\/2018\/02\/decline-768x551.jpg 768w, https:\/\/www.crescentcityjewishnews.com\/blog\/wp-content\/uploads\/2018\/02\/decline.jpg 781w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-41071\" class=\"wp-caption-text\">Stock market correction. (Image courtesy of Pixabay)<\/p>\n<\/div>\n<p>At one point the Dow had dropped 1,600 points early in the day, but did recover a bit at the close of trading.&nbsp;Analysts point out that while the loss yesterday was historic, the marketplace is up a whopping 21% overall since President Donald Trump took office.<\/p>\n<p>All of the Standard &amp; Poor&#8217;s listings of its 500 industrial companies also took a significant loss, registering a 4.1% loss. The NASDAQ also registered a 3.78% loss, ending the day at 6,967 points. The largest sector of losers was apparently posted in the health industry.<\/p>\n<p>The single worst day registered for a point loss on Wall Street took place on September 29, 2008 at the height of the collapse of the housing market during President George Bush&#8217;s administration. That decline of 775 points translated into a 7% fall in the overall value of the marketplace.<\/p>\n<p>However, none of these drops can compare to the 22.6% market value drop experienced on October 19, 1987, a day known as Black Monday. Triggered by a selloff of foreign markets in Asia and in London, the Dow Jones Industrial Average plunged 558 points that day to end at a little more than 1,738 points. That date was worst than the previous &#8220;Black Tuesday&#8221; designation for the October 29,&nbsp;1929 Stock Market Crash that brought the nation into the Great Depression.&nbsp;<\/p>\n<p>As expected, investors in Asian markets early Tuesday reacted to the selloff, termed by many analysts as a correction after historic highs in the stock market. All Asian markets including Tokyo&#8217;s Nikkei index are sharply down. The Tokyo Stock Exchange lost more than 1,071 points, which translated into a 4.73% drop in one day. How all of this will affect Wall Street, when the markets here open this morning, remains to be seen.<\/p>\n<p>&nbsp;<\/p>\n<div style=\"padding-bottom:20px; padding-top:10px;\" class=\"hupso-share-buttons\"><!-- Hupso Share Buttons - https:\/\/www.hupso.com\/share\/ --><a class=\"hupso_toolbar\" href=\"https:\/\/www.hupso.com\/share\/\"><img decoding=\"async\" data-src=\"https:\/\/static.hupso.com\/share\/buttons\/share-medium.png\" style=\"border:0px; padding-top: 5px; float:left;\" alt=\"Share Button\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" \/><noscript><img decoding=\"async\" src=\"https:\/\/static.hupso.com\/share\/buttons\/share-medium.png\" style=\"border:0px; padding-top: 5px; float:left;\" alt=\"Share Button\"\/><\/noscript><\/a><script type=\"text\/javascript\">var hupso_services_t=new Array(\"Twitter\",\"Facebook\",\"Google Plus\",\"Pinterest\",\"Linkedin\",\"Tumblr\",\"Email\");var hupso_background_t=\"#EAF4FF\";var hupso_border_t=\"#66CCFF\";var hupso_toolbar_size_t=\"medium\";var hupso_image_folder_url = \"\";var hupso_url_t=\"\";var hupso_title_t=\"Wall%20Street%20takes%20a%20dive%3B%20Dow%20drops%201175%20points\";<\/script><script type=\"text\/javascript\" src=\"https:\/\/static.hupso.com\/share\/js\/share_toolbar.js\"><\/script><!-- Hupso Share Buttons --><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":3,"featured_media":41071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[3],"tags":[9183,8790,8795,9182,8788,9181,9180],"_links":{"self":[{"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/posts\/41066"}],"collection":[{"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/comments?post=41066"}],"version-history":[{"count":1,"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/posts\/41066\/revisions"}],"predecessor-version":[{"id":41072,"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/posts\/41066\/revisions\/41072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/media\/41071"}],"wp:attachment":[{"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/media?parent=41066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/categories?post=41066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.crescentcityjewishnews.com\/blog\/wp-json\/wp\/v2\/tags?post=41066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}