U.S. stock markets fell sharply Wednesday, erasing all gains for the year and muddying one of President Trump’s favorite talking points two weeks before the midterm elections.
The technology-heavy Nasdaq fell 4.4 percent Wednesday, its worst one-day drop since the financial crisis. The index has slid more than 12 percent since the end of August. The Standard & Poor’s 500-stock index, which tracks a broader group of U.S. companies, has lost $2 trillion in value since late September, down 9 percent. The Dow Jones industrial average, meanwhile, lost 608 points Wednesday and is down 8.3 percent in the past three weeks.
The president, who often touts the economy’s strength, is focusing on new subjects amid signs of strain.