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Dow Jones plunges 1,000 points as inflation fears spook investors

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Stock Market plunges more than 1000 points

Wall Street was on Thursday heading for its toughest week in more than two years after fears of higher interest rates led to a fresh plunge in New York stocks.

Another day of wild swings in the financial markets saw more than 1,000 points wiped off the Dow Jones industrial average – a loss for the day of over 4%. It was the third drop of more than 500 points for the Dow in the last five days and the Dow is now down 10% from its peak on 26 January, a fall known as a “correction”.

The more broadly based measure of US share prices – the S&P 500 – and the tech-heavy Nasdaq index were also sharply lower as traders reacted nervously to concerns about rising inflation in the world’s biggest economy.


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