Reuters
Stocks raced sharply downward on Monday, with the Dow Jones Industrial Average falling by nearly 1,600 or around 5 percent before recovering about half those losses.
Monday’s sell-off was not only deep but widespread, with all 11 sectors in the S&P 500 index posting declines. Financials, health-care, and energy sectors saw the steepest declines.
The declines erased the gains in the major stock indexes for the year. At its deepest, the Dow’s decline was the worst since the U.K. surprise vote to leave the European Union.
After a bumpy morning, the sell-off took on steam in the afternoon. The Dow shed hundreds of points when the sell-off really took off beginning around 2 P.M.
