Stocks got caught in a vicious machine-driven sell-off Monday, with the Dow tumbling nearly 1,600 points by midafternoon before closing the day down 1,175 — the single largest drop in points in the market’s history.
After a short recovery — when bargain hunters tried in vain to save the day and were able to boost the Dow an incredible 655 points in six minutes — the bears, fearful of inflation and rising interest rates, took over and the sell-off was on again.
The Dow closed the day down 4.6 percent, finishing at 24,345. The broader S&P 500 also plunged 4 percent, shedding 113 points, to 2,648, while the Nasdaq closed down 3.8 percent, losing 273 points, to 6,967.
The Wall Street wipeout — which followed a 666-point Dow decline on Friday — erased all the 2018 gains for both the Dow and the S&P.
And some analysts were not surprised.
“Historically, market has 10 percent moves top to bottom in nearly every year,” Bruce Bittles, chief investment strategist at Baird, told The Post.