Dow plunges 1,600 points at lows, marks worst intraday point drop in history, on computer-driven selling
The Dow Jones Industrial Average fell nearly 1,600 points at its lows on Monday, after a period of selling accelerated sharply heading into the close of the session. Amplifying the slump was computer-programmed trade set to dump shares at certain levels. According to traders, the Dow was set to trigger trades once it fell below 25,000 and 24,000, for example, and 2,700 for the S&P 500 . Most recently, the S&P 500 was off 105 points, or 3.9% at 2,655, the Nasdaq Composite Index was down 251 points, or 3.5%, at 6.989. The Dow, meanwhile, lost as much as 1,597 points, and was most recently down 1,115 points, or 3.5%, at 24,433.
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