(NEW YORK) — The Dow Jones industrials are down 500 points, extending the market’s losses.
The market opened little changed on Thursday but started to fall in early trading and extended its losses throughout the morning. The losses were steady, unlike the sharp swings seen over the past few days.
The benchmark Standard & Poor’s 500 index is now down 8 percent from the record high it set January 26. It’s still up 15 percent over the past year.
Technology companies, the leading sector over the past year, and banks fell the most. Microsoft lost 2.3 percent.
The Dow was down 501 points, or 2 percent, to 24,397.
The S&P 500 gave up 44 points, or 1.7 percent, to 2,637. The Nasdaq composite lost 125 points, or 1.8 percent, to 6,926.