The stock market continued to lose ground Monday after Friday's steep drop, with the Dow Jones industrial average down nearly 1,200 points — its worst single-day drop.
Major stock indexes dropped sharply Friday; the Dow Jones industrial average tumbled 2.6 percent amid signs that wage growth is picking up. It was the Dow's worst weekly performance in two years.
Stocks have been rising for years, and they are starting 2018 with another shot upward. The Dow Jones industrial average closed at about 25,000 — the fastest run to a new 1,000-point milestone ever.
On Oct. 19, 1987, Wall Street had its single worst trading day ever. Even after three decades, Black Monday still marks the biggest one-day crash, and its impact continues to reverberate.
The Dow Jones industrial average topped 23,000 for the first time, crossing another milestone amid better-than-expected earnings reports and concerns that stocks are approaching another bubble.
Stock prices continue to fall as global investors worry about China's slowing demand. At the same time, oil prices are plunging as supplies surge. Together, it's making for a tough day in the markets.
The tech giant will replace the telecoms giant after the close of trading March 18. The change, effective March 19, was prompted by stock splits announced by Apple and Visa.