The Dow Jones Industrial Average dropped 400 points at its lowest Tuesday, in the second day of selloffs ahead of President Trump's State of the Union address and the first of the Federal Reserve's two-day rate-setting meetings. If the Dow doesn't recover before markets close, the drop will be the biggest one-day plunge since June 2016, when the index fell 610 points, CNBC reports.
UnitedHealth was the worst performer, plunging 3.4 percent following the announcement that Amazon, JPMorgan Chase, and Berkshire Hathaway are partnering on a new health-care company.
On Monday, the average fell 177 points. "I think people are looking for an excuse to sell," SlateStone Wealth's chief investment strategist, Robert Pavlik, told CNBC. "This is the first wave of selling we've seen in a while."