The global market correction continued Monday following Friday's sneak preview as investors sought to sell off falling stocks following negative economic data about the U.S. economy.
After European markets tanked and all three major U.S. indices saw significant drops during pre-market trading, the selloff ramped up after markets opened on Wall Street.
As of 9:54 a.m. ET, the Dow Jones Industrial Average was down over 1,000 points (2.54%) at 38,729. The Nasdaq Composite was down 694 points (4.14%) and the S&P 500 lost 169 points (3.17%).
The selloff comes after the Commerce Department dropped bad data about unemployment figures, raising concerns that the U.S. labor market could drag the economy into a recession.
This is a developing story. Please check back for updates.
