Trading was volatile during the day, with the index 600 points up at its highest point and 560 points down at the lowest.
The topsy-turvy volatility of the US stock market over the past few days has left many nervous investors reaching for bottles of antacid to help settle their queasy tummies.
US stocks slipped in choppy trading on Wednesday as technology and energy stocks fell, while investors adjusted to a market with greater volatility following wild swings of the past few sessions. Hong Kong's Hang Seng slipped 0.9 percent to 30,323.20, while the Shanghai Composite lost 1.8 percent to 3,309.26 on heavy selling of banks and insurers.
The investors are yet to get out of the record one-day drop on Dow and other USA stocks.
The S&P 500 last confirmed a correction in January 2016, when it fell 13.3 percent amid concerns about a slump in oil prices. On Tuesday it rallied another $5.22, or 14.7 percent, to $40.84.
And that should lift stocks, making them a far better investment even if bond yields do drift above 3% over the next year or two.
Investors remain fearful that signs of rising inflation and higher interest rates could bring an end to the bull market that has sent stocks to record high after record high in recent years.
The surge in volatility on Monday, which sent the VIX spiking to multi-year highs in just hours, led to the implosion of products created to bet against volatility, exacerbating markets stresses in a rapid unwind.
The Nikkei index ended the day at 21,645.
The Standard & Poor's 500, the benchmark for many index funds, is also 10 percent below the record high it set two weeks ago.
The retreat in equities had been long awaited by investors as the market climbed steadily to record high after record high with few bumps.
There is no major economic data due out Wednesday.
"While today would be crucial in seeing if the bulls can wrestle back control for Asian markets, it does appear that we have finally entered a period of increased volatility", says Jingyi Pan, market strategist at IG in Singapore. The contract dropped $1.60, or 2.5 percent, to finish at $61.79 a barrel on Wednesday. The wage pop spooked the markets because investors, already skittish as valuations were a bit steep (though not as bad as people have been saying, given strong current and expected corporate earnings), envisioned this sequence: wage growth gooses price growth (i.e., inflation), which raises both market and Federal Reserve interest rates, which slows growth and shaves corporate profit margins.
Tom Martin, senior portfolio manager with Globalt Investments, said he did not see anything specific moving the market lower, just a continuation of a shift in investor mindset from fear of missing out in a rising market to worry of clocking big losses in a market that has turned.
The broad-based S&P 500 shed 0.2 per cent to 2,676.46, while the tech-rich Nasdaq Composite Index edged up less than 0.1 per cent to 7,054.61. The 10-year Treasury yield, which moves opposite price, spiked to a four-year high of 2.85% on Friday.
The biggest losses went to high-dividend companies including utility and real estate companies, as bond yields increased after a sharp drop on Monday.
USA crude oil fell 76 cents, or 1.2 percent, to close at $63.39 a barrel in NY. Late Friday the Fed said it will freeze Wells Fargo's assets at the level where they stood at the end of previous year until it can demonstrate improved internal controls. It fell 76 cents, or 1.2 percent, to close at $63.39 a barrel in New York Tuesday.
The Russell 2000 is down 27.54 points, or 1.8 per cent.
GTA 5 Has Sold More Than 90 Million Copies
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China's imports surge in January
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The show has seen over 20 model launches and plenty of brands manifesting their electric vehicle and hybrid concepts. The move is also in line with the government's mission of having only electric vehicles being sold by 2030.
Blizzard has finally unveiled all the new skins and a peek at the brand new Capture the Flag map for Overwatch . There's also a whole new map designed specifically for the mode, but we'll get to that a bit later.
The Treasury is also having to borrow more money, partly because of the tax cuts, and issuing more debt tends to raise yields. A thirty three basis point jump in the 30-year fixed rate since the beginning of January is not exactly a slow climb.
To see him back at the top of the world rankings a decade later is a testament to his greatness and desire to achieve even more". Earlier, the world number one said that he was hoping to make a return from injury at the Mexican Open , beginning February 26.
Once again, the BBC will use their show format Eurovision: You Decide , being previously used in the past two years. And she was the musical director for Blanche's City Lights, the Belgian entry at Eurovision 2017.
Only someone looking for something to criticize would take issues with what Gisele told her crying 5-year-old daughter. Sharing is caring." When Vivian pointed out that the Eagles won the Super Bowl, Bündchen replied, "Just this time.
He is now shooting 52 percent from the floor, 37.3 percent from three-point range and 63.2 percent from the free-throw line. In exchange for Payton's services, the Suns are sending the Magic the Memphis' Grizzlies 2018 second-round draft pick.
His mom was decked out in an Alabama sweater and Tennessee hat in an ensemble that seemed to yell, "anywhere but Florida". Four-star wide receiver Jacob Copeland was choosing between three schools: Alabama , Florida and Tennessee .
Both series now have new people in charge, with Discovery having gone on to do very well, despite the disruption. Welp, the deja vu is now here to stay when it comes to the world of Bryan Fuller and his exciting projects.
Atleast 136 people killed in Syria's Eastern Ghouta
The ongoing fighting and deliberate obstructions by forces were preventing aid organizations from reaching civilians, it said. Mr Le Drian's also criticised Turkey for waging a separate offensive against Kurdish fighters in Afrin in north Syria.
Teams, score and highlights from Copa del Rey
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PM Modi to Opposition: Rise above party lines
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NBC Reports Record-Setting Super Bowl Streaming Audience
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NVIDIA Corporation Profit Advances In Q4
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