Wall Street losses accelerate; S&P 500 down 5 percent from record

NEW YORK (Reuters) - U.S. stocks' losses accelerated in afternoon trading on Monday, pushing the S&P 500 down more than 5 percent from its Jan. 26 record high and the Dow below 25,000 for the first time since Jan. 4.

The Dow and S&P 500 also fell below their 50-day moving averages, while the Cboe Volatility index was on pace for its largest one-day jump since August 2015.

The S&P energy index, down 3.4 percent, led declines.

The Dow Jones Industrial Average fell 594.71 points, or 2.33 percent, to 24,926.25, the S&P 500 lost 57.18 points, or 2.07 percent, to 2,704.95 and the Nasdaq Composite dropped 110.38 points, or 1.52 percent, to 7,130.57.

 

(Reporting by Caroline Valetkevitch; Editing by Nick Zieminski)