Dow jumps 235 points, but US markets are still on track for worst December since 1931 | CNN Business

Markets on track for worst December since Great Depression

Updated 12:17 PM EST, Mon February 4, 2019

The opening numbers are displayed at the opening bell of the Dow Industrial Average at the New York Stock Exchange on December 6, 2018 in New York. - Wall Street opened sharply lower Thursday, joining a global stocks sell-off after the arrest of a key Chinese executive at Washington's request revived worries over trade tensions. About three minutes into trading, the Dow Jones Industrial Average had fallen 2.0 percent, nearly 500 points, to 24,532.25. The broad-based S&P 500 sank 1.9 percent to 2,648.04, while the tech-rich Nasdaq Composite Index shed 2.2 percent to 7,002.02. (Photo by Bryan R. Smith / AFP) (Photo credit should read BRYAN R. SMITH/AFP/Getty Images)

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Stocks plunge on US-China trade tension

3:32 • Source: CNN

The opening numbers are displayed at the opening bell of the Dow Industrial Average at the New York Stock Exchange on December 6, 2018 in New York. - Wall Street opened sharply lower Thursday, joining a global stocks sell-off after the arrest of a key Chinese executive at Washington's request revived worries over trade tensions. About three minutes into trading, the Dow Jones Industrial Average had fallen 2.0 percent, nearly 500 points, to 24,532.25. The broad-based S&P 500 sank 1.9 percent to 2,648.04, while the tech-rich Nasdaq Composite Index shed 2.2 percent to 7,002.02. (Photo by Bryan R. Smith / AFP) (Photo credit should read BRYAN R. SMITH/AFP/Getty Images)

Stocks plunge on US-China trade tension

3:32

What we're watching here

Stocks have had a rocky few months, with the Russel 5000 now in bear territory. Oil is falling too.

2 Posts

Alan Greenspan to investors: 'Run for cover'

Donna Borak

Alan Greenspan says the party’s over on Wall Street.

The former Federal Reserve chairman who famously warned more than two decades ago about “irrational exuberance” in the stock market doesn’t see equity prices going any higher than they are now.

“It would be very surprising to see it sort of stabilize here, and then take off,” Greenspan said in an interview with CNN anchor Julia Chatterley.

He added that markets could still go up further — but warned investors that the correction would be painful: “At the end of that run, run for cover.”

Dow jumps 235 points, but US markets are still on track for worst December since 1931

By Matt Egan

Dow jumps 235 points at Tuesday’s opening bell, recovering a slice of the recent rout. S&P 500 and Nasdaq gain 0.8%.

Despite the steady gains, the Dow and S&P 500 are on track for their worst December since 1931. The Dow plunged 508 points, or 2.1%, on Monday.

US oil prices slide 1.9% to $48.91 a barrel, slipping below $49 for the first time since September 2017.

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