The U.S. stock market suffered significant losses in the first five days of 2016, making it the worst opening week for the market since 2011.
The three major indices finished the week with record low numbers. The Dow Jones Industrial Average and the Standard & Poor’s 500 Index both reported the worst starts to a year in their history.
The Dow’s first five days of 2016 was the worst opening since 1897, and the S&P 500’s Friday closing broke records dating to 1929 and the Great Depression, according to news reports.
Nasdaq has plummeted more than 6 percent in the last week.
The bleak start is partially due to instability in the Chinese market, which halted trading in Shanghai twice this week to stop the stock plunge.
The U.S. market may see further drops in the coming weeks on low oil prices and instability in the Middle East. Also, fourth-quarter earnings reports will be released.
