Dow Closes at 1175-Point Drop

Yesterday, the U.S. stock market closed after a late-afternoon, 15-minute nosedive with the Dow Jones Industrial Average dipping 1175 points, a decline of 4.6 percent on the Standard & Poor’s Index.

After a closing at 666 points down Friday afternoon, analysts expected a weak performance Monday, but many investors were surprised to see a sharp drop, landing as low as it did, and were left wondering how low it could go and how far the impact would be felt, reports Bloomberg.

Last month, the stock market posted a 5.8 percent gain. Those gains have been wiped out and then some after two consecutive days of declines.