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Dow drops more than 1,500 points

Update 3:11 p.m.: The Dow Jones Industrial Average dropped more than 1,500 points at its lows Monday afternoon. Our original post appears below.

The Dow Jones Industrial Average dipped more than 400 points at its lows Monday, at times falling more than 450 points. The decline follows a rocky week that culminated in a 666-point plunge last Friday.

The Dow dropped immediately after Monday's opening bell, then faced a second drop in the early afternoon that brought its two-day loss to more than 1,000 points. The turbulence is fueled in part by a strong January jobs report, which "sparked … inflation fears and worries that interest rates could rise faster than expected," USA Today writes.

The S&P 500 also registered its first 5 percent pullback in more than a year, MarketWatch reports.