Dow drops 490 points, S&P and Nasdaq both plunge in biggest stock fall since Aug 23

The Dow plunged 490 factors by the shut of markets on Wednesday, and the Nasdaq and S&P500 additionally noticed their steepest declines since the top of August, closing down 1.6 p.c and 1.eight p.c, respectively.

All three indexes noticed an ominous begin to the quarter, whereas both the Dow and the S&P500 noticed their worst begin since the start of the 2008 recession.

President Donald Trump blamed House impeachment proceedings for the dangerous begin to the quarter, pledging to cooperate with the investigation – maybe in the hope of soothing the skittish markets. Concerns about jobs and manufacturing have additionally contributed to the slide, with recession indicators looming massive on the horizon.

From the bond market’s inverted yield curve, to the slowdown in GDP development, to a decline in enterprise spending and company income, indicators of recession are all over the place – at the same time as Trump boasts the economic system is doing higher than ever.