The stock market has taken another hit, with the Dow Jones Industrial Average losing more than 2% in the past 24 hours after a powerful earthquake rattled the United States, forcing many to panic.
Dow Jones has fallen more than 9% since early Friday, its biggest drop since late November.
The Dow has lost more than 11% this year.
The stock index is down 2% since the Nov. 3 earthquake.
The Nasdaq is down 1% since Nov. 2.
The S&P 500 is down 0.5% since Friday.
“A weak market and weak fundamentals is going to keep investors in a tight spot,” said Charles Haynes, chief executive of Wedbush Securities.
The market, which has lost nearly 20% this century, has lost about 4% of its value since the last big stock market collapse.
The dollar is also trading at a low level after trading at $1.3087 US per euro.
“I’m really worried about what’s going to happen with the stock market and the economy,” said Robert Shiller, chief investment officer at The Vanguard Group.
“This is not a time for euphoria.”
Shiller said investors are concerned about the impact of a weak global economy on global trade and consumer confidence.
The Federal Reserve and other central banks are also concerned about slowing inflation.
“It’s an uncertain time to be a market participant in markets,” said Shiller.
Dow shares were down 0,631 points, or 0.4%, at 22,079.13, the S&s Dow Jones index was down 1,859 points, to 24,938.06.
The NASDAQ was down 2,002 points, at 6,966.08, the Nasdaq Composite was down 6,094 points, and the Russell 2000 was down 7,639 points, down 5.2%.
The Dow Jones fell more than 10% from its all-time high reached in October of 5,097.23.
The U.A.E. was shaken off its lowest level in about three weeks, with some trading in the black and some in the red.
Japan’s Nikkei 225 dropped more than 1%, while the Nikkeis Shanghai Composite dropped more 4%.
The S.&=&gt;S.P.S., or Shanghai Stock Exchange, closed down 1.5%.
The NasDAQ Composite Index was down 0 to 2,976.06, and Dow Jones’ S&am=&am;S Dow Jones Index was up 0.3%.
The index was up more than 3% from Friday’s closing price of 2,664.07.
The New York Stock Exchange lost 3.6%, with the NasDAQ index dropping 4.3% to 4,929.94.
The London Stock Exchange gained 2.5%, with its Nasdaq Index down 2.7% to 9,856.62.
The Russell 2000 fell 3.4% to 13,051.84.
The Diversified Futures Exchange gained 1.6% to 5,958.38.
The Chicago Board Options Exchange gained 0.7%, with both the S.
P=<&%; and S.T.O.X.
S=&t; trading up 1.7%.
“The Fed will likely raise rates sooner rather than later,” said Brian Klaas, an analyst at Bernstein Research.
“The longer the Fed waits, the more the market can fall.
The longer the market waits, and you’re going to see more volatility.”
The Fed is scheduled to hold its next meeting on Thursday.
In an interview with CNBC, Federal Reserve Chairwoman Janet Yellen said that she expects inflation to accelerate in coming months.
Yellen also said the Fed is not going to raise rates in September or October.
“We’re not going there yet,” Yellen told CNBC.
“That will depend on the labor market and on the inflation situation.”
The Federal Open Market Committee will hold its first meeting on Friday, but the Fed’s rate-setting process will take place next month, with Yellen’s nomination to lead the committee approved by the full Fed Board next month.
“What I’m expecting is a very fast pace of rate increases and that we’ll see them in the near term, and then we’ll have to wait and see what happens in October,” said Jeffrey Hays, an economist at the Center for Economic and Policy Research.
The Fed will begin its two-day meeting on Sept. 19.
The committee’s meeting will be the first time the U.P., the global benchmark for interest rates, has met since 2008.
The Bank of Japan has signaled that it may raise its benchmark interest rate to as high as 1% by the end of the year, if the U and the rest of the