Dec. 21 (UPI) — The Dow Jones Industrial Average closed 414 points down Friday for its largest weekly plunge since the 2008 financial crisis.
In addition to the Dow’s 1.8 percent drop, the Nasdaq closed down 195 points for a 3 percent drop and the S&P 500 closed down 50 points for a 2.06 percent drop.
The Dow was down 1,655 points or 6.9 percent for the week, the largest weekly loss since October 2008. The Nasdaq also set a 10-year record with a 8.4 percent plunge this week, the worst since November 2008. The S&P 500 was down 7.1 percent for the week, its worst since August 2011.
CNN reported the stock market was on pace for its worst December since the Great Depression.
Friday’s plunge was fueled in part by technology losses. Facebook dropped 6 percent, Apple was down 4 percent, Twitter was down 7 percent and Netflix was down 5 percent.
The Street reported fears of a government shutdown was also being felt on the markets.
