Source: CNN Money
NEW YORK (CNNMoney) -- Stocks plunged Thursday in their single worst day since the 2008 financial crisis.
The Dow tumbled 512 points -- its ninth deepest point drop ever -- as fear about the global economy spooked investors.
The market's fear gauge -- the VIX -- surged 35.8% to a reading of 31.8. A level above 30 signals a high degree of fear.
At the closing bell, the Dow Jones industrial average (INDU) was down 512 points, or 4.3%, with Alcoa (AA, Fortune 500), Caterpillar (CAT, Fortune 500) and Bank of America (BAC, Fortune 500) among the biggest drags on the blue chip index. Thursday's sell-off marked the steepest point loss since October 2008.
The S&P 500 (SPX) was down a staggering 60 points, or 4.8%.
The Nasdaq (COMP) lost 136 points, or 5.1%. Some of the better performing tech stocks, Apple (AAPL, Fortune 500), Google (GOOG, Fortune 500) and Netflix (NFLX) were all down between 2% and 3%.
Fears about a global slowdown are at the forefront of investors' minds amid recent weak economic data. Early Thursday, the latest reading on jobless claims showed a large number of Americans remain unemployed.
Today economic data front, we observe:
GBP 15:00 Jul Halifax HPI (House Price Index) m/m, exp: 0.1%
GBP 16:30 Jul PPI (Producer Price Index) Input m/m, exp 0.6%
US 20:30: Jul Change in Nonfarm Payrolls, exp.: 85K
US 20:30: Jul Change in Private Payrolls, exp.: 115K
US 20:30: Jul Change in Manufact. Payrolls, exp.: 10K
US 20:30: Jul Unemployment Rate, exp.: 9.2%
US 20:30: Jul Avg Hourly Earning MoM All Emp, exp.: 0.2%
US 20:30: Jul Avg Weekly Hours All Employees, exp.: 34.3
US 20:30: Jul Chg in Household Survey Emply
US 03:00: Jun Consumer Credit, exp.: $5.000B
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