Two-day Brexit-fueled Stock Plunge Set To Be Worst Since August Rout

By Markets MarketWatch Pulse

U.S. stocks are on track to book their worst two-day decline since late-August, when fears about China's sluggish economy and its volatile stock market sent global equities reeling. On Monday, the Dow Jones Industrial Average was off 314 points, or 1.7%, to 17,097, the S&P 500 index lost 42 points, or 2.1% to 1,995 and the Nasdaq Composite Index was down 124 points, or 2.7%, at 4,582. The Dow's fall added to a 610 plunge for the blue-chip gauge on Friday and marks its most severe two-day slide since Aug. 24, according to Dow Jones data. It is also the worst two-session slide for the Nasdaq Composite and S&P 500 since late August. The ugly stock slump follows Friday's historic vote by the U.K. to quit the European Union, which has rattled global markets. Underscoring the intensity of the selloff, the Dow and the S&P 500 traded below their widely followed 200-day moving averages--a key technical threshold that implies that the stock-market benchmarks may have more room to tumble over the long term.

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