New York share prices tumbled Tuesday, sending equity markets reeling around the world. After charging ahead in record territory for months, the steep corrections of U.S. indexes have come as no surprise.
There appears to be a good chance that global equity markets will remain in a corrective phase for some time. Wall Street's Dow Jones industrial average could drop 1,000 points, or nearly 10 percent, by the end of this month or shortly afterward.
After moving further in uncharted territory to a record-high 11,497.12 Friday, the Dow plunged 359.58 points to 10,997.93 Tuesday, its fourth-worst single-day point drop.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.