Economic security

Dow loses 4% on Thursday in second 1,000-point tumble of the week

For the second time in a week, the Dow Jones Industrial Average lost 1,000 points in a single session.

In what’s been a historically volatile week for markets, each of the major U.S. averages lost more than 3.7% in trading on Thursday with the Dow’s 4.15% decline — which was good for a 1,032-point loss — leading markets lower.

The benchmark S&P 500 lost 100 pints, or 3.75%, while the tech heavy Nasdaq lost 274 points, or 3.9%.

Bespoke Investment Group notes that both the Dow and the S&P 500 are officially in correction territory, defined as a 10% drop from recent highs, as the Dow settled at 23,860.46 and the S&P 500 closed at 2,581. The Nasdaq, which closed at 6,777.16, closed about 20 points above its correction level.

On Monday, the Dow lost 1,175 points, its largest point-decline on record before gaining 560 points on Tuesday in a snapback rally.