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Wall Street selloff worsens on Mnuchin move; Dow falls 653 points

The Dow Jones Industrial Average fell 653.17 points, or 2.91%, to 21,792.2


The S&P 500 tumbled to the brink of a bear market on Monday as U.S. stocks extended their steep sell-off in a pre-holiday shortened session, with investors rattled by the U.S. Treasury secretary's convening of a crisis group and by other political developments. All three major indexes ended down more than 2 percent the day before the Christmas holiday. The S&P 500 finished about 19.8 percent below its Sept. 20 closing high, just shy of the 20 percent threshold commonly used to define a bear market. Treasury Secretary Steven Mnuchin called top U.S. bankers on Sunday amid the ...

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First Published: Tue, December 25 2018. 01:07 IST