1,175-point loss erases Dow’s 2018 gains

Analyst advice: Keep calm, stay the course

The Dow Jones industrial average tumbled more than 1,500 points at one point Monday, yielding the worst intra-day price swing in stock market history on a day when there was apparently no single piece of news that provoked the dizzying decline.

After the index had plunged an ominous 666 points Friday — and more than 1,000 points last week — the Dow ended Monday 1,175.21 points lower, or 4.6 percent, at 24,345.75.

“Today’s market drop, while understandably unsettling to investors, just takes us back about two months,” said Greg McBride, chief financial analyst at Bankrate.com. “The S&P 500 last closed lower than this on Dec. 7.”

The Standard & Poor’s 500 index, the benchmark most professional investors and many index funds use, skidded 113.19 points, or 4.1 percent, to 2,648.94. That was its biggest loss since August 2011, when investors were fearful about European government debt and the U.S. came close to breaching its debt ceiling.

The Nasdaq composite fell 273.42 points, or 3.8 percent, to 6,967.53. The Russell 2000 index of smallercompany stocks sank 56.18 points, or 3.6 percent, to 1,491.09.

“Market corrections are normal, no matter how nerve-wracking they are at the time,” Mr. McBride said. “Just hang in there, maintain a long-term perspective and resist the urge for any knee-