In a sudden downturn, stock markets in the United States plummeted on Monday afternoon with the Dow Jones Industrial Average falling at least 1,000 points after its worst weekly decline in two years.
It is the first time the Dow Jones index has fallen below 25,000 since Jan. 4, with its biggest daily decline since the global financial crisis in December of 2008.
CNN reported that Monday was the largest intra-day point decline of all time, with the Dow Jones falling a total of 1,597.08 points at its low, flying past the previous record of 1,089.42 on Aug. 24, 2015.
However, in measurement of percentages, the Monday drop has not broken the record. Black Monday in 1987 saw the DJI fall 22 per cent, and a 7 per cent drop on several individual days during the 2008 financial crisis.
The Dow is down overall 4 per cent on Monday, and 6 per sent over the last two trading days.
Stocks close at 4 p.m. with the DJI still fluctuating.
More details to follow. Image of the New York Stock Exchange from Bitcoin.