Dow jones fell more than 900 points to record worst daily loss since two years

(MENAFN) The Dow Jones industrial average fell over 900 points on Friday to record its worst day-to-day decrease since October two years ago.

The blue-chip index dropped 981 points, or 2.82 percent, to end at 33,811, whereas the S&P 500 jumped 121 points, or 2.77 percent, to 4,271.

Tech-heavy Nasdaq dropped 335 points, or 2.55 percent, to close the day at 12,839.

The drop in indices came after American firms’ poor economic outcomes for the January-March period, and the Federal Reserve administrators indicating this week that the central bank is going to make a 50 basis points of rate spike in its next conference on the 4th of May.

The yield on a decade US Treasury notes dropped 0.63 percent to 2.899 percent.

The dollar index increased 0.58 percent to 101.16, whereas the VIX volatility index, identified as the fear index, increased 24.2 percent to 28.18.

Precious metals dropped, with gold decreasing 0.9 percent to USD1,933 and silver dropping 1.9 percent to USD24.18 per ounce.

Crude oil costs dropped over 2 percent.

Global oil main Brent crude was exchanged at USD105.57, down 2.5 percent, whereas US main West Texas Intermediate (WTI) stood at USD101.11 with a 2.6 percent drop.


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