It was a wild ride on Wall Street today with the Dow Jones Industrial average taking a nosedive, losing more than 1,175 points dropping below 25,000 for the first time since January 4th during a second straight day of sell-offs.
It was the worst single-day point drop the Dow has ever sustained and, coming on the heels of Friday’s 666-point loss, erased the Dow’s gains for the year.
By the end of the trading day the Dow had dropped 46 percent, more than 1,100 points, closing at 24,345.
Troy Reinhart of Northwest Quadrant Wealth Management said that while these fluctuations can be scary, market pullbacks prevent stocks from overheating and gives investors who were stuck on the sideline a chance to “get in”.
Despite the recent turmoil, the Dow remains up almost 40 percent since President Trump’s election and the official white house comment today was that “markets do fluctuate in the short term,” but stressed, that the fundamentals of the economy are strong.