- Dow closes out it's worst day in three months, falls more than 700 points as recession fears grow - Stocks fell sharply Thursday after new data showed retail sales declined more than expected in November, raising fears that the Federal Reserve’s relentless interest rate hikes are tipping the economy into a recession.
The Dow Jones Industrial Average fell 763.54 points, or 2.25%, to 33,202.74 — in its worst day since September as hopes for a year-end rally diminished. The S&P 500 dropped 2.48% to 3,895.82, bringing its decline for December to about 4.5%. The Nasdaq Composite tumbled 3.23% to 10,810.53 as the battered tech-heavy index stretched its 2022 losses to nearly 31%.
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