TIME stocks

Stock Market Has Biggest One-Day Drop Since June After North Korea Nuclear Test

Investors were also nervous about a potential interest rate hike

(NEW YORK) – U.S. stocks dropped on Friday, giving the S&P 500 its worst day since June, as investors grew nervous following a nuclear test by North Korea and comments by Federal Reserve officials that hinted at a U.S. interest rate hike.

The Dow Jones industrial average fell 394.46 points, or 2.13 percent, to 18,085.45, the S&P 500 lost 53.49 points, or 2.45 percent, to 2,127.81 and the Nasdaq Composite dropped 133.58 points, or 2.54 percent, to 5,125.91.

The three major indexes posted their largest weekly declines in months.

Your browser is out of date. Please update your browser at http://update.microsoft.com


YOU BROKE TIME.COM!

Dear TIME Reader,

As a regular visitor to TIME.com, we are sure you enjoy all the great journalism created by our editors and reporters. Great journalism has great value, and it costs money to make it. One of the main ways we cover our costs is through advertising.

The use of software that blocks ads limits our ability to provide you with the journalism you enjoy. Consider turning your Ad Blocker off so that we can continue to provide the world class journalism you have become accustomed to.

The TIME Team