The Dow is having its worst week since the financial crisis.
Fears about inflation and soaring bond yields have sent the Dow plunging 6.5% through the first four trading days of this week. That would be the steepest decline in any week since October 2008.
After losing a record 1,175 points on Monday, the Dow tumbled 1,033 points more on Thursday. It landed in a correction, a 10% decline from previous highs. The S&P 500 has shed 6.6% this week, its second-worst since 2008. All the Nasdaq's gains for the year have been wiped out.
The market turmoil follows a prolonged period of booming stock prices with virtually no sharp declines. Such a rapid rise is unusual, and market analysts long warned that a pullback was overdue.
"The run-up on the market was amazing. We've all enjoyed it," said Rich Guerrini, CEO of PNC Investments.