World Economy

US Shares Drop Worst in 4 Years

US Shares Drop Worst in 4 YearsUS Shares Drop Worst in 4 Years

US stocks tumbled on Friday in the sharpest one-day drop since 2011, erasing gains for the past year amidst a global stock rout, triggered by the Chinese economic crisis, a series of collapses in emerging markets and a deepening decline in commodities with crude oil falling below $40/bbl, Sputnik reported. Wall Street posted its worst trading day since 2011 on Friday, with the Dow plunging 500 points (3% its value) and other major indices sliding as well. The recent lackluster industrial production data from mainland China, along with a massive decline in commodities, crude oil most prominently, has triggered selloffs in stocks worldwide, wiping some $3.3 trillion off the value of stock markets across Asia, Europe and North America.