Dow Jones slumps over 900 points for worst daily loss in 12 years

The Dow Jones Industrial Average .DJI fell 981.36 points, or 2.82%, to 33,811.4, the S&P 500 .SPX lost 121.88 points, or 2.77%, to 4,271.78 and the Nasdaq Composite .IXIC dropped 335.36 points, or 2.55%, to 12,839.29. For the week, the Dow dipped 1.9%, the S&P dropped 2.8%, and the Nasdaq declined 3.8%.

NEW YORK: Wall Street tumbled more than 2.5% on Friday, ensuring the three main benchmarks ended in negative territory for the week, as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors.

It was the third straight week of losses for both the S&P 500 .SPX and the Nasdaq .IXIC, while the Dow Jones posted its fourth weekly decline in a row.