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Dow has now lost 40% of its gains since Trump's inauguration
The Dow Jones has now had its worst week since the 2008 crash, according to analysts who note that Thursday's 1,032-points drop has left the index with 40% of the gains that it made since President Trump's inauguration gone.
By Rick Docksai
Contributor
Feb 22, 2018

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WASHINGTON D.C. — The Dow Jones fell by 1,032 points Thursday, continuing a downward trajectory that started last Friday. According to analysts, the Dow is now at lowest value since November 28 of last year, meaning that it has lost 40% of all gains it has made since President Trump took office.

Thursday's losses also wiped out all gains that the Dow had made since the start of 2018. The Dow's Thursday drop amounted to 4.2% of its total value and left it at 23,860.

The Dow and the S&P 500 have both fallen by 10.4% from their all-time highs, which they reached in January. While some fluctuations in stock index values are normal, this steep a drop places the Dow and S&P 500 both in "correction" zone for the first time in two years, and MUFG economist Chris Rupkey told the Washington Post that more investors are starting to worry.

"Ten percent is no small potatoes," Rupkey said "It's a big number. That loss of wealth is going to take a toll on overall spending in the economy both for businesses and individuals."

So far, the Dow has lost more points this week than it has in any other week in its history except one: The week that ended Oct. 10, 2008 and led to a years-long worldwide recession. This week's losses will exceed the October 2008 plummet, however, if the index loses another 214 points Friday.

Investors said that the recent stock market drops occurred in part because speculators expect inflation to rise around the globe, and they anticipate national governments swiftly raising interest rates to keep inflation in check. They note that shortly before Thursday's market losses, the Bank of England announced that it might raise interest rates "earlier" and "to a greater extent" than it had planned.