Dow plunges more than 500 points as selloff roils markets

Dow plunges more than 500 points as selloff roils markets

http://www.chicagotribune.com/business/ct-biz-dow-jones-stock-market-falls-20180202-story.html


Dow Jones Industrials Average Opens Down Over 200 Points

Traders and financial professionals work on the floor of the New York Stock Exchange ahead of the opening bell, February 2, 2018 in New York City. The Dow dropped 250 points at the open on Friday morning. (Drew Angerer / Getty Images)
Jeremy HerronBloomberg

The Dow Jones industrial average has fallen more than 500 points Friday as a sellof in U.S. assets picked up steam.

Strong jobs data increased the likelihood the Federal Reserve will lift rates next month. Equities sank toward the worst week in two years and Treasuries tumbled to a four-year low.


The S&P 500 Index dropped the most since August, pushing its five-day rout to 3 percent after the 10-year Treasury yield popped above 2.85 percent for the first time since January 2014. Bloomberg’s dollar index surged to erase a weekly loss. Energy shares plunged more than 3 percent Friday. The tech selloff worsened, sending the Nasdaq 100 Index lower by 1 percent even as Amazon.com Inc. rallied to a record on earnings. Apple Inc. lost 1.2 percent amid a disappointing sales forecast, while AlphabetInc. sank 5 percent.