Global markets sank Thursday after the European Central Bank announced stimulus plans that came up short of what investors had forecast. The bond market was especially roiled by the ECB’s move. Bond prices in the U.S. and Europe fell sharply, and yields jumped.
The Dow Jones industrial average fell 252.01 points, or 1.4 per cent, to 17,477.67.
The Standard & Poor’s 500 index dropped 29.89 points, or 1.4 per cent, to 2,049.62.
The Nasdaq composite index fell 85.70 points, or 1.7 per cent, to 5,037.53.
For the week:
The Dow is down 320.82 points, or 1.8 per cent.
The S&P 500 is down 40.49 points, or 1.9 per cent.
The Nasdaq composite is down 90 points, or 1.8 per cent.
For the year:
The Dow is down 345.40 points, or 1.9 per cent.
The S&P is down 9.28 points, or 0.5 per cent.
The Nasdaq is up 301.47 points, or 6.4 per cent.