Monday was a record-setting day on Wall Street. Not in a good way.
Dow:
— The Dow fell 1,175 points, or 4.6%.
— It was by far the worst point decline ever. The previous record was 777 points on September 29, 2008.
— At its lowest point of the day, the Dow was down 1,597 points, the worst intraday decline ever. The previous record was 1,089.42 on August 24, 2015.
— The Dow briefly fell below 24,000. The last time that happened was January 4.
— The Dow has lost 27% of its gains since Election Day 2016.
— Since its peak on January 26, the Dow has lost 2,270 points. It is now up 6,000 points since Donald Trump was elected president. It had been up as much as 8,300 points.
— The Dow is now down for the year. The last time the Dow was down year-to-date was January 19, 2017.
— The worst percentage decline remains October 19, 1987, known as Black Monday, when the Dow fell 22%.
Other stocks:
— The S&P 500 fell 4.1%.
— The Nasdaq fell 3.8%.
— The VIX, an index of stock market volatility, more than doubled. It rose 115%, by far the biggest one-day jump ever. The VIX had never risen by more than 50%.
— The most heavily traded stock of the day was Bank of America, which fell more than 5%.
— Wells Fargo’s stock fell 9% after the Fed severely punished the bank Friday for its fake-account scandal.
— Qualcomm fell more than 6.5%. Broadcom upped its offer to buy the company, but Wall Street analysts were skeptical of the merger’s prospects.
Bonds:
— The 10-year yield fell to 2.73%. On Friday, the yield hit a four-year high of 2.85%.
— Stock investors are worried that high bond yields will lure risk-averse investors out of the stock market. That prediction came true Monday.
Commodities:
— Oil fell 3% to $63.50.
— Gold rose 0.4% to $1,342.80.