As they say, what goes up must go down. After an impressive surge to record peaks during the past few months, the Dow Jones started a sharp slump. Earlier, the index was hitting one all-time high after another. Given the steep rise, the current decline can be called a record too. The plunge was the largest since 2008.
The Dow Jones was not falling alone; two other key indices followed the downward movement. The US stock market will remember this February for long. The S&P 500 lost 2.1 percent in a single day, closing down at 2,762.13. Its weekly decline made up 3.9 percent. The NASDAQ Composite tumbled by 2 percent to 7,240.95, losing 3.5 percent in a week. But the Dow Jones Industrial Average suffered the biggest decrease among them. On Friday, February 2, the Dow slid by 666 points, or 2.5 percent. Over the week, the blue-chip index sank by 1,095 points.
Statistics show that the Dow Jones rarely falls by over 600 points in a session. It is only the tenth case in the whole history of the US stock market. Experts believe that a correction in the market is an inevitable and ordinary event given the recent extraordinary growth.
