Giant corporations like Apple, Disney, Netflix, and CBS closed down at 7% driven by fears of low price of oil and the Chinese currency devaluation.
The market has not had a decrease like this since August, 10, 2011 when the index closed 500 points down.
"Right now there is a feeling of fear in the marketplace and all news is interpreted negatively and it's interpreted indiscriminately," said Tom Digenan, head of US equities as UBS Global Asset Management
US Stock Market Sell-Off: Dow Closes Down 531 Points
20:45 GMT 21.08.2015 (Updated: 10:25 GMT 06.08.2022)
© AP Photo / Kathy Willens
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The Dow Jones plunged more than 500 points on Friday, the 3% drop was caused by global growth concerns accelerated selling pressure.
