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Dow drops 800 points, marking worst day this year for stock market

(WSIL) — The Dow Jones Industrial Average tumbled more than 800 points Wednesday– the worst day of the year for investors.

The plummet followed a series of concerning economic indicators from Germany and China, signaling renewed recession fears in the global economy.

One big piece of news came when the yield on 10-year U.S. Treasury notes dipped below the yield of two-year U.S. Treasury notes. The 30-year U.S. Treasury bond also hit a new record low on Wednesday.

The S&P 500 also fell by more than 85 points and the Nasdaq slid by more than 240 points.

The downturn in the markets came a day after the Dow closed up 373 points after the U.S. Trade Representative announced a delay in many of the import taxes imposed by the Trump administration’s planned tariffs on Chinese goods.

On Aug. 5, the Dow closed down 760 points, or about 3%. The tumble came after China’s central bank allowed its currency, the yuan, to fall to its lowest level against the U.S. dollar in more than 10 years.

The growing trade fight between the two countries has intensified in recent weeks after President Donald Trump accused China of manipulating its currency. His comments came just days after he threatened to levy tariffs on about $300 billion of Chinese goods, extending existing tariffs.

ABC News contributed to this report.

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News 3 Staff

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