Transcript for Stock market plunges, negative for the year
Well a stock market's gains for this year have mostly been a race thanks to share prices falling thirteen of the last fifteen trading days. The Dow lost 608 points that more than 2% and south more than 7%. This month alone and is negative for 2018. Asian markets also struggled overnight ABC's or reckons Jarvis tells us what's causing the sharp declines. Tech stocks have been considerably week they were some of the year's highest flyers now they're some of the weakest stocks Amazon apple. Google the parent company of Google alphabet some of the biggest losers in addition to that there were pierce about. The economy going forward and whether or not it can really keep pace with where it spends so far this year while wrote. Has been chugging along. Jobs have been looking good even wages have been increasing there are other areas starting to show some signs of cracks for example the housing market. Interest rates are also rising and when interest rates rise it becomes more expensive for you or company to take on debt. Which means usually less spending. Rebecca Jarvis ABC news New York.
This transcript has been automatically generated and may not be 100% accurate.