Dow drops over 700 points to end below 30,000

NEW YORK, June 16 (Xinhua) -- U.S. stocks fell sharply on Thursday as steep sell-off continued on Wall Street amid rising recession fears.

The Dow Jones Industrial Average tumbled 741.46 points, or 2.42 percent, to 29,927.07, marking the first time the index has traded below the 30,000 threshold since January 2021. The S&P 500 fell 123.22 points, or 3.25 percent, to 3,666.77. The Nasdaq Composite Index shed 453.05 points, or 4.08 percent, to 10,646.10.