Dow sees Tuesday morning drop as market volatility continues
The stock market dropped again early Tuesday morning, wiping out most of Monday afternoon's recovery, The Washington Post reported.
After an initial slide, however, the Dow Jones Industrial Average began to rebound, and by 10:55 a.m. had almost returned to where it started.
Article continues belowThe 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.
According to the Post, "Investors have been spooked by expectations that the Federal Reserve — which begins its two-day policy meeting Tuesday — could tighten monetary policy more aggressively than originally planned to combat decades-high inflation."
Early on, Tuesday morning looked a lot like Monday morning, but it's still possible that Tuesday afternoon will resemble Monday afternoon.
On Monday morning, CNBC reported, the Dow plummeted more than four percent but recovered in the afternoon, closing "up 99.13 points, or 0.3 percent, at 34,364.50."
Monday's hectic trading day was the first following the market's worst week since the pandemic began in March 2020. Last week, the Dow Jones Industrial Average dropped 1,400 points. Tech stocks and cryptocurrencies were hit especially hard.
