India, April 4 -- Extending the nosedive seen over the course of the previous session, stocks showed another substantial move to the downside during trading on Friday. With the continued sell-off, the Nasdaq and the S&P 500 plunged to their lowest closing levels in eleven months.
The major averages ended the session just off their worst levels of the day. The S&P 500 plummeted 322.44 points or 6.0 percent to 5,074.08, the Nasdaq dove 962.82 points or 5.8 percent to 15,587.79 and the Dow tumbled 2,231.07 points or 5.5 percent to 38,314.86.
The tech-heavy Nasdaq is now down more than 20 percent from its record high in December, which is considered a bear market in Wall Street terminology.
The extended nosedive on Wall Street came amid ongo...