Second biggest oneday point drop ever, after mondays fall. The dow is current loo o tra for its worst week since october 2008. That oas in the heartthe financial crisis. Now, the culprits today appear to have been the same that have dogged the market since last friday, a rise in bond yields, and sharp moves in volatility nds. Here are the numbers. Sit doesnt for these. The dow wilted 032oints to finish at 23,860 that is 4 . Nasdaq fell about 275 points or 3. 9 . And the s p 500 drop an even ar0. Heres how the indexes have fallen since their peak just ck ten days or so ago on january 26th. The dow and s p are now both in correction territory. That means they are down more than 10 from their peak. And the nasdaq virtually there, of a 9. 7 . Babb pisani has more on the days act. Reporter it wa another wild day, the kind of day where the market appears to be changing by the minute. The dow plumtded me than 000 points and ended at session lows. Once again in correction territory, down 10 .
The dow, s p and nasdaq all now negative for 2018. Thank you for being with us tonight, everybody lets begin with guy adami guy, after a week of reckoning for stocks we are left with a hard question. Is this a healthy run of the mill correction . Or the start of something bigger, perhaps a bear market . Because i can say that thousandpoint drops have really never happened in the market unless we have a serious, serious issue. We have never been this high. To tims point. And you know this, yes, at 27 n. O. W. In the dow 1,000 points is obviously different than at 15,000 in the dow. Obviously it creates headlines because it is a significant number for context, though, the levels where we are now in the s p and the dow jones is where we were at thanksgiving. At thanksgiving everybody was talking about how great the market was number one, im not dismissing whats going on. What i think is happening here, clear of what everybody has said, volatility has taken over. Stocks have become Collate
Inflation did rise. So what did stocks do in they went up. Its all just a case ofuring that market adage inside outside. In this case, se the rumor, buy the news. After a stumble out of the gate tonight, equties rallied, and strongly, for a fourth straight session. The Dow Jones Industrial average advanced to 24,893. The nasdaq added 130 and the s p 0 was up 35. Babb pisani mightily tries to hy explain w stocks went up todwh most thought he would go down. Reporter is the market worried about inflation or not . Stocks took a knows dive on february 2nd when the jobs report pointed to strongh. Wage grow it fell on today when a read on consumer inflation came in stronger. But by late morning the market recouped all of its losses and move higher. What happened . First volatility has been a big wory recent. Today the main measure of volatility, the vix dropped dramatically, indicating that traders who make bets on volatility were betting that volatility would be lower in the next month. That