US stock market crash: Dow Jones drops over 1,000 points, S&P 500 sheds 3% in worst day since 2022

By the end of the session in the US stock market, the Dow Jones fell 1,033 points (2.6 percent), the S&P 500 dropped 3 percent, and the Nasdaq Composite fell nearly 3.5 percent, according to reports.

However, all three benchmark indices had some recovery from the lows of the day.

For the Dow Jones and the S&P 500, this was the worst single-day fall since September 2022, reports CNBC-TV18.

According to CNBC-TV18, fears of a US recession turned out to be the biggest contributor for Friday's (Aug 2) market meltdown post a disappointing jobs report, a fear that spilt over into Monday's (Aug 5) session as well.

Only 22 stocks in the S&P 500 ended with gains on Monday (Aug), as per reports.

Investors worry over the fact that the US Federal Reserve is behind the curve in starting to cut interest rates after the central bank chose to leave rates unchanged last week, as reported by CNBC-TV18.

The Dow Jones is down 5.9 percent and S&P 500 has shed 6.1 percent over a three-day period, while the Nasdaq Composite has seen a fall of 8 percent, which is the worst three-day losing streak for the indices since June 2022, as per reports.

Post the close of trade, the Futures though are seeing some rebound as the Nasdaq 100 futures are up nearly 190 points, while the Dow Jones futures are trading with gains of 150 points, according to CNBC-TV18.