The Dow falls 400 points.
(Image credit: Spencer Platt/Getty Images)

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."

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Jeva Lange

Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.