The Dow Jones industrial average saw its largest single-day point drop in history the week of Feb. 5, 2018.
In its worst week in two years, the Dow Jones industrial average traveled more than 22,000 points, its worst being Monday.
Stocks plunged as traders worry about rising interest rates and inflation. UBS director of floor operations at the New York Stock Exchange, Art Cashin, said the market “snapped like a twig.”
The week saw two drops of over 1,000 points. On Monday, the worst of the week, the drop reached over 1,500 points and again on Thursday, 1,032 points.
However, Cashin insisted that investors should not get ahead of themselves. “Let the market tell you where it’s going by zigzagging back and forth and holding the previous levels,” he told CNBC.
On Friday, Dow bounced back more than 300 points but still remains down five percent.
Reed Ferguson, Vice President, is a partner and Contributing Senior Editor at iVoteAmerica. She currently studies economics at the University of Georgia.