2 August 2024
The Dow Jones Industrial Average plummeted 760 points on Friday, driven by recession fears and disappointing earnings reports, following a 494-point drop on Thursday. Intel’s stock, in particular, plunged 28.8% after a poor earnings report, contributing significantly to the Dow’s decline. This marked Intel’s largest one-day drop since 1974, shaving about 55 points off the Dow’s total. The broader market selloff reflects growing concerns about the economic outlook and potential recession.