The Dow Jones Industrial Average completed an epic three-year round trip on Wednesday, at one point dipping below the level at which it sat when Donald Trump first became U.S. president in January 2017.
The latest leg of the sharp sell-off, in which the Dow has shed more than 10,000 points in five weeks, once again saw circuit breakers temporarily halt trading.
The index closed down 1,338 points, or 6.3 per cent, at 19,898.92, but dipped below 19,732, where it closed on Jan. 19, 2017, the day before Donald Trump became U.S. president. The index traded below that mark shortly after 12 p.m. EST and the final six minutes of the trading session before a late bounce allowed it to close just above.
A 963-point loss, meanwhile, left Canada’s S&P/TSX Composite Index at levels it hadn’t traded at since August 2012.
“The volatility you’re seeing underscores the underlying fragility of