After last week’s stock market plunge, the Dow Jones Industrial Average dropped an astonishing 1000 points in the minutes following Monday’s opening bell.
30 minutes later, the market index rebounded to around -500, before dropping back down to -700. The record for all-time greatest drop by the day’s end was a 777 point drop in August 2008.
Among the companies with the largest initial drop in prices were Apple (which also had a disastrous product recall over the weekend) by 10% and Facebook by 14%. The silver lining for consumers is that oil prices have also taken a major hit, which may or may not translate to lower prices at the pump.
We’ll update this piece as the market goes through it’s daily roller coaster. And check out a real-time Dow chart here.