U.S. stock markets finished the day way down Monday after the most volatile day of trading in more than half a decade.
The Dow Jones Industrial Average finished off nearly 600 points, or roughly 3.5 percent down, after opening down nearly 1,000 points or about 5 percent down and then rising again by mid-day to within a percentage point of the previous close.
Monday marked the second straight trading day in which the Dow fell by more than 500 points.
The S&P 500 also was down nearly 4 percent.
Volatility soared Monday. The CBOE Volatility Index, or VIX, reached its highest level since early 2009 during the day. The VIX is also known as the “fear index.” Over the course of the day, the Dow Jones Industrial Average moved more than 4,000 points in total, and nearly 5 billion shares traded on the New York Stock Exchange, according to CNBC.
Apple, which started the day with a nearly 10 percent decline, recovered the entire decline by midday before finishing down more than 1 percent.
Government bonds viewed as a safe haven strengthened over the day. The 10-year U.S. Treasury security finished at just above 2 percent, the lowest close since the spring.
Monday’s volatility and slump in global markets followed rising fears about growth, especially in China. China’s Shanghai Composite index fell 8.5 percent on Monday.
