And so the carnage on Wall Street continues.
On Thursday, the Dow Jones Industrial Average plummeted more than 1,000 points for the second time this week; only Monday’s historic 1,175-point drop was worse in the average’s 122-year-old history.
The S&P 500 lost 100 points on the day while the Nasdaq Composite index gave up 275 points, as all three indexes declined by around 4%. They are all roughly 10% off their January 26th all-time highs, putting them in official correction territory.
The CBOE Volatility index, or VIX, which was lazing comfortably under ten for months, had shot back up to 34 again.
But is this something worse than a correction? Are we in the midst of another stock market crash—or at the start of a new bear market?