Dow Jones plunges more than 1,500 points

The Dow Jones Industrial Average plunged more than 1,500 points Monday afternoon after falling more than 600 points on Friday.
2:41 | 02/05/18

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Transcript for Dow Jones plunges more than 1,500 points
This is an ABC news. Good afternoon we're coming on the air now with news from Wall Street when kick to the floor of the stock exchange there you see the Dow down more than a thousand points. Right now coming on top of more than 600 point loss on Friday that puts the Dow in negative territory for this year down little more than 4%. Right now but of course is comes on top of the healthy gain. In the stock exchange over the last few if you look back to and president trump was inaugurated back in January 2017. The Dow is below 20000 now about 24000. So close to a 25. Percent rise since 2017. But it has been a tough day on Wall Street right now as we approach the closing bell. The Dow continues to drive now down about 11100 points and here with our chief business correspondent Rebecca Jarvis and Rebecca this will be the largest point drop. Ever in doubt history but far from the worst debt. That's right George if you look at this in point terms we will close somewhere down about 11100. Points today. That's sizeable but nowhere near as bad as it was on September 9. 2008 when the Dow fell 777. Points. And that was in near 7%. Fall that day we've just come a lot farther since then that's why the percentage terms today are still down four point 6% windows that is meant. Things like money in 1987 with the Dow Jones more than 21%. But it's only one point to the Dallas 16100. Points is even worse that was even worse it was looking like we could be in that negative 7% territory so we've come up from there. But George as we were speaking about earlier there were a number of veterans on Wall Street. Who have been feeling like something is coming that that this is meant to be that something. We were going to see a sell off like this at some point in time given how far stocks have come in the last year up 22%. In the last year right debated the economy still quite strong. And the jobs report on Friday 200000 jobs were added the wage gains are happening. And that's what we were really waiting on those wage gains and some of that actually can have a negative impact on this market because as wages and jobs improve it gives more reason for the Fed to hike interest rates which in turn can weigh on stock. We have now had a closing bell there you see it right through the down about 11170 points right now we'll settle for a few more minutes but it more than 4% loss today coming on top of the 600 point. Drop I'm fight of course that is wiped out the gains in the Dow for the year Rebecca Jarvis to be joining getting your tonight on world news already home. He is the latest breaking news any time by downloading the ABC news app. Calcium aren't you know. This has been a special room. For me he's.

This transcript has been automatically generated and may not be 100% accurate.

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