Wall Street experiences most dramatic plunge in two years

The US financial markets have recorded the sharpest decline in nearly two years, further weighing on global market sentiment. This is due to growing concerns about a slowdown in the US economy. The S&P 500 fell by 3% on Monday, while the Dow Jones Industrial Average dropped more than 1,000 points. The Nasdaq Composite lost 3.4%. Prior to this, Japan's Nikkei 225 had experienced its worst day since 1987 with a decline of 12.4%. Fears about the economic situation were fueled by a series of disappointing reports, including a weaker-than-expected jobs report on Friday. Major technology stocks, which have driven numerous market records this year, suffered significant losses. The Dow Jones Industrial Average fell by 1,033.99 points or 2.6%, closing at 38,703.27 points. The Nasdaq Composite dropped by 576.08 points or 3.4% to 16,200.08 points. The Russell 2000 Index, which represents smaller companies, also lost 70.15 points or 3.3%, closing at 2,039.16 points.