In a historic day of turbulence, the stock market whipped between nauseating drops and roaring comebacks on Monday before closing with another big loss.
Seized by fears that the Chinese economy is not as healthy as it appeared to be, investors sold with abandon at the opening bell and sent the Dow Jones industrial average down almost 1,100 points, the biggest decline on record in a trading day.
Then the market staged a dramatic comeback and almost erased its losses, coming within about 115 points of break-even. By late afternoon, stocks were sinking again — and the Dow closed down 588 points, or 3.6 percent…
Read the rest of the story from our partners at NBC News
More Must-Reads From TIME
- The Case for Mediocrity
- How Russia Is Recruiting Cubans to Fight in Ukraine
- Paul Hollywood Answers All of Your Questions About The Great British Baking Show
- Meet the 2023 TIME100 Next: the Emerging Leaders Shaping the World
- Oprah and Arthur C. Brooks: How to Separate Work From Your Identity
- How Canada and India's Relationship Crumbled
- You Don’t Have to Like Wrestling to Love Netflix’s Excellent Wrestlers
- The Most Anticipated Books, Movies, TV, and Music of Fall 2023
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
