Major U.S. stock indices started the trading day lower Monday — a lot lower.
Investors reacted to the emergency sale of Wall Street investment bank Bear Stearns, as well as drastic actions by the Federal Reserve to shore up confidence in financial markets.
The Dow Jones Industrial Average fell 177 points, losing about 1.5 percent of its value. The Broader S&P 500 lost about the same. The Nasdaq fell 2 percent.
Investors around the globe were also nervous after the weekend news from Wall Street.
European stocks were down about 4 percent. The main stock averages in Hong Kong and India ended the day nearly 5 percent lower. Tokyo's stock market lost almost 4 percent.