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The United States stock market has been hit with another major correction, this time for the first time since the beginning of the financial crisis in 2007.
In a rare move, the Dow Jones Industrial Average and the S&P 500 both plunged more than 100 points or 0.4 percent in the closing hours of the day on Tuesday.
The Dow, which had been soaring for years, lost nearly 400 points or 4 percent in less than four hours.
The S&P 500, which is the world’s most valuable company by market capitalization, was down nearly 1,300 points or 3.6 percent.
Traders are worried about the U.K. and other markets where markets have been under pressure as a result of the Brexit vote and the U,S.
The market has also suffered from a lack of confidence in the U: Investors are less confident that the U and other major economies will continue to recover and their economies will keep growing.
A major concern for investors is that stocks in many of the sectors that are in bad shape are now at a record high.
“The market is at an all-time low and we’re in uncharted territory,” said David Rosenberg, chief investment strategist at BNP Paribas in New York.
“It’s difficult to predict where this is going to go.”
The market was trading at a historic high on Tuesday when the Dow was trading above 20,000 for the third time this year.
At its peak on April 20, the S.&.
P. index had hit a record 20,051.
By early Wednesday morning, it had lost nearly a third of its value.
If stocks continue to fall, it could lead to a global sell-off that could hit the world economy.
Investors have been looking to sell stocks amid concerns about the health of the U as well as Europe’s debt crisis and economic stagnation.
Analysts said it’s possible the Dow could fall even further before it hits a new record.
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