Dow sinks over 1,100 points in worst day since 2020

NEW YORK, May 18 (Xinhua) -- U.S. stocks plummeted on Wednesday as weak earnings from major retailers stoked concerns about the impact of inflation.

The Dow Jones Industrial Average plunged 1164.52 points, or 3.57 percent, to 31,490.07. That marked its worst daily percentage decline since June 2020, according to Dow Jones Market Data. The S&P 500 fell 165.17 points, or 4.04 percent, to 3,923.68, also booking its worst daily drop since June 2020. The Nasdaq Composite Index shed 566.37 points, or 4.73 percent, to 11,418.15.