Markets Tank as Volatility Continues
Where’s the bottom? Lingering worries about U.S. interest rates and the government shutdown pushed the Dow Jones average into correction territory — 10 percent below recent highs — dropping an additional 1,033 points, or 4.1 percent. It’s been a dizzying trading week, exacerbated by Washington’s budget debate. “With financial markets vulnerable at the moment, this was not great timing for such political brinksmanship,” opined one analyst. The selling continued in Asia, where Japanese and Chinese indexes fell as much as 4 percent, while European trading began with more modest declines.