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US: Dow ends down 4.6% after brutal session

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[NEW YORK] Wall Street stocks endured a brutal session on Monday, with the Dow seeing one of its steepest ever one-day point drops, as the heady bullishness of early 2018 gave way to extreme volatility.

At the closing bell, the Dow Jones Industrial Average was at 24,346.13, down 4.6 per cent, having at one point plummeted nearly 1,600 points to hit a session low of 23,923.88.

The broad-based S&P 500 dropped 4.1 per cent to 2,648.49, while the tech-rich Nasdaq Composite Index fell 3.8 per cent to 6,969.45.

Wall Street stocks have been on shaky ground for the last week amid concerns over elevated Treasury bond yields and the likelihood of additional Federal Reserve interest rate increases this year.

AFP

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