Dow plunges 318 points to end ugly week

Uncertainty in foreign markets thought to be to blame

CHICOPEE, Mass. (WWLP) – It was another ugly day on Wall Street. The Dow plunged 318 points to close just below 16,000.

The Dow is down almost 500 points over the past two days as investors pull out of stocks and emerging markets and stash money in safer assets like bonds.

22News talked to Mark Teed from Raymond James Financial who says China’s economy has a lot to do with it.

Teed said, “All of a sudden, everyone was fearful of everything. Particularly in China, what was going on in the emerging markets, Turkey and Argentina then also corporate earnings started to get people worried, so this was the week that all the fear bubbled up and people sold off today.”

Teed says if you’re invested and have been for a couple years, you’re still way ahead than where you were last year. And he says it may be a good entry point for people who haven’t invested yet.