Markets Dive On Big Sell-Off
Wall Street closed the first trading day of this week moments ago with a big sell-off, as the Dow Jones experienced its biggest one-day loss since July 2, erasing all of August's gains.
The Dow closed down nearly 2 percent, the broader S&P 500 closed off 2 percent and the Nasdaq closed down 3 percent.
The markets never managed to rally today, as traders took their profits. But not everyone was upset about the big one-day dive: The markets have roared up more than 40 percent since their early March bottom and traders were hoping for a day like today (and Friday) to let some of the steam off of the rally. Bulls remain on the sidelines ready to buy when the markets find their floor, traders say.
August 17, 2009; 4:03 PM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500
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