Wall Street claws back dramatic losses

- Wall Street made a stunning recovery in midday action on Monday, clawing back more than 900 points after a sharp plunge at the opening bell.

As of 1:15 P.m. ET, the Dow Jones Industrial Average shed 127 points, or 0.90% to 16311. The S&P 500 dropped 20 points, or 1.04% to 1949, while the Nasdaq Composite declined 22 points, or 0.47% to 4683.

Technology was the only one of ten S&P 500 sectors in positive territory, rising 0.10%, while energy suffered the steepest decline, falling 1.88%.

Today’s Markets

The Dow saw its biggest-ever intraday point drop on Monday at the opening bell as it plunged 1,089 points. At the start of trading, all three major U.S. averages fell deep into correction territory.

A weekend to digest growing global economic-growth concerns failed to settle nerves on Wall Street as U.S. equities took a nosedive one session after the Dow officially entered a correction. Wall Street extended a selloff in global equity markets as worries about significant deterioration in China sparked fear in the minds of investors around the world.

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