DOW Plunges 1,500 Points

The DOW Jones Industrial Average plunged 1,500 points in afternoon trading before bouncing back up, marking the largest intraday drop it in history and erasing its 2018 gains.

Inflation fears and concerns about interest rate hikes have sparked the selloff. The plunge follows huge jumps in the DOW, when it soared past 25,000, then 26,000 points, which were both milestones, in January.

The DOW closed at 1,175 points.