witnessing a long expected market correction. jolean kent has more. reporter: turmoil on wall street. you had a lot of genuine fear in the market. they were selling the winners and the stuff they loved. reporter: the dow s 1,000 point plunge was the second steepest lost on wall street. it was not a day analysts want to think about at this point. reporter: the fall coming after the american jobs report. that drove interest rates up and fanned fears that the federal reserve will raise rates more quickly than expected, making borrowing more expensive. the wall street woes driving americans to remember to make a move with their retirement savings. there is absolutely no reason for panic right now. this is indicative of stock prices that a lot of people thought were too high. as long as you can keep your
yesterday. the second worst point drop ever. the very worst was monday s 1,075 point plunge. remember, coming from an extraordinary run. right now, we are also looking at the s&p. we are focused on the nasdaq, both the dow and the s&p. a correction is defined as a 10% drop from an index s 52-week high. the dow was down 10.4% from the high. the s&p down 12.5%. the nasdaq was short of correction territory, down 9.7%. we note that just because the markets fall into connection territory but it doesn t mean the current bull market is over. maybe it just means that bull isn t raging so hard. what is a bull market? it is an extended period where stock prices increase. a bear market is the opposite. an extended period where stock prices decrease. the latest bull market started
practically as much of tradition as the turkey and pumpkin pie and gravy. it s giving many us serious heart burn. according to a new poll, 58% of americans stay they are positively dreading the prospect discussing politics. that s up five points from last year during the aftermath of the election. 31% say they re eager to do so tomorrow. that s a 12 point plunge from last year. joining us now to analyze two of my favorite people here at fox, shannon bream, anchor of the brand new show on fox. brett beir. i m sitting in your chair. i feel ineducate sitting in this chair. this is your chair. i m keeping it warm until you come back. it s great to see you. brett, i want to start with you.
practically as much of tradition as the turkey and pumpkin pie and gravy. it s giving many us serious heart burn. according to a new poll, 58% of americans stay they are positively dreading the prospect discussing politics. that s up five points from last year during the aftermath of the election. 31% say they re eager to do so tomorrow. that s a 12 point plunge from last year. joining us now to analyze two of my favorite people here at fox, shannon bream, anchor of the brand new show on fox. brett beir. i m sitting in your chair. i feel ineducate sitting in this chair. this is your chair. i m keeping it warm until you come back. it s great to see you. brett, i want to start with you.
that froze the obama plan to the 26 states suing. time for an early start on your money. asian stocks up. japan s benchmark up 1.4%. yesterday, good day for the dow. 260 point climb. a good day in what has been a wild week. this week we had a 333 point plunge on tuesday. with yesterday s gains, stocks are up for the year. banking stocks led the rally. the question remains when will the federal reserve raise interest rates and how will the economy respond? i want an answer to that question. the fed will raise interest rates. get over it. we have been talking about it for so long. it will be a non event. 41 minutes past the hour. carjacked by the boston marathon bombers. the video capturing the moments one kidnapped driver managed to get away. what he said in court next.