Dow Jones drops 800 points in worst day for the stock market since June


The stock market's late-August recovery didn't last long.
Just a day after President Trump bragged about the Dow Jones Industrial Average closing over 29,000 points, it turned around and plunged as much as 1,000 points on Thursday before closing 810 down. A major tech selloff sparked the slump, which also hit the Nasdaq Composite and S&P 500 hard.
The Dow's drop was a 2.87 percent drop from the day before, settling it at 28,292 points. The S&P 500 fell 3.5 percent, or 126 points, to 3,455. And the Nasdaq slid 5 percent, or 598 points, ending up at 11,458. In all, it was the market's worst day since June. Big tech stocks were largely to blame, with Apple seeing a 7 percent drop, while Amazon, Alphabet, and Microsoft all falling around 5 percent. Thursday was the worst day for Apple and the tech sector as a whole since March.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

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.
The major dip came just after the market had its best August since the 1980s, per NBC News. And that extended into this week, with the Dow topping 29,000 for the first time since February and the Nasdaq crossing 12,000 for the first time ever on Wednesday.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
Today's political cartoons - May 11, 2025
Cartoons Sunday's cartoons - shark-infested waters, Mother's Day, and more
-
5 fundamentally funny cartoons about the US Constitution
Cartoons Artists take on Sharpie edits, wear and tear, and more
-
In search of paradise in Thailand's western isles
The Week Recommends 'Unspoiled spots' remain, providing a fascinating insight into the past
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine