US stock markets continue to slide



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Dow Jones Industrial Average

Last Updated at 13 Apr 2018, 15:06 GMT *Chart shows local time Dow Jones intraday chart
value change %
24402.86 -
-80.19
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General Electric Co.

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JP Morgan Chase & Co.

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Nasdaq Index

7099.00 -
-41.25
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-0.58

S&P 500 Cash Index - Chicago Mercantile Exchange

2658.31 -
-5.68
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-0.21

(Close): The sell-off on Wall Street continued on Monday with the main share indexes ending down sharply again.

Airlines and energy stocks were among the big losers on continuing worries about the strength of the global economic recovery.

The Dow Jones fell 222 points, or 1.4%, to 16,321, while the S&P 500 fell 31 points, or 1.7%, to 1,874. The Nasdaq fell 62 points, or 1.5%, to 4,213.

Last week, US markets suffered some of their biggest falls for two years.

On Monday, the VIX, a measure of volatility known as the "fear index", rose 12.7% to 23.95, its highest level since June 2012.

"We've broken down to a point where we haven't been for a long, long time," said Randy Frederick, managing director of trading and derivatives at Schwab Center for Financial Research.

Wall Street's main markets began the day higher, but turned negative in afternoon trading.

Airlines suffered on further fears that the Ebola virus outbreak will curb travelling, and general worries about the global economy.

'Negative effect'

Despite falls in the cost of crude oil, which in theory should lower airlines' fuel costs in the long term, shares in American Airlines Group fell 7.1% and Delta Air Lines fell 6.1%.

"Whether it's correct or incorrect, trader opinion right now is continued worsening of the Ebola situation is going to have a negative effect on travel and leisure," said Michael James, managing director of equity trading at Wedbush Securities.

The S&P energy sector lost 2.9%, extending recent losses. It is down 7.6% for the last three sessions, its worst three-day slide since September 2011.

Wall Street's sell-off also hit carmaker Fiat Chrysler Automobiles, which on Monday debuted on the New York Stock Exchange at $9 a share.

The shares closed at $8.92, after hitting a peak of $9.55.