Markets on edge after Dow plunge



LONDON (CNNMoney.com) -- Stock markets around the world retreated Friday as investors expressed nervousness after an unprecedented selloff on Wall Street that was triggered by unusual trades.

European markets dropped in morning trading and Asian shares finished the session deep in negative territory.

U.S. futures, which offer an indication of how Wall Street may open when trading begins in New York, stabilized and were higher at 4:49 a.m. ET.

Investors are rattled after technical glitches in the trading of Procter & Gamble (PG, Fortune 500) stock led to a nearly 1,000-point drop on the blue-chip Dow Jones industrial average.

The plunge of 998 points was the Dow's biggest one-day point decline on an intraday basis.

The sharp and rapid drop late in the trading day Thursday triggered a wider selloff on Wall Street. However, stocks managed to pare most of those losses.

The blue-chip Dow ended Thursday's session down 348 points, or 3.2%. The broader S&P 500 finished down 3.2% and the Nasdaq posted a decline of 3.4%.

The volatile session on Wall Street led to a pullback in Europe. The CAC 40 in France sank 1.8% in early trading and Germany's DAX lost 1.1%.

The FTSE 100 fell 0.8% as investors faced the prospect of a hung Parliament after no single party won an overall majority in the United Kingdom's general election.

Exit polls predict the Conservatives are on pace to win 305 seats. However, this would be 21 short of a majority in the 650-seat House of Common.

In Asia, Japan's benchmark Nikkei index sank 3.1%. The Shanghai Composite tumbled 1.9% and Hong Kong's Hang Seng index closed the session down 1.1%.

The erratic trading on Wall Street on Thursday only exacerbated nervousness among investors, who have been on edge the past few weeks amid growing concerns that debt woes in Europe will slow down the global economic recovery.

Leaders of several European countries will meet Friday in Belgium to finalize the details on a financial bailout plan for Greece.

The meeting in Brussels comes a day after Greek lawmakers approved an unpopular package of austerity measures designed to help the country's battered economy.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.85%3.81%
15 yr fixed2.95%2.91%
5/1 ARM3.37%3.07%
30 yr refi3.85%3.82%
15 yr refi3.02%2.98%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 17,458.49 -220.21 -1.25%
Nasdaq 4,709.52 -62.24 -1.30%
S&P 500 2,038.15 -18.94 -0.92%
Treasuries 1.82 -0.00 -0.16%
Data as of 3:11pm ET
Company Price Change % Change
Microsoft Corp 42.99 -4.02 -8.54%
Bank of America Corp... 15.69 -0.16 -1.01%
Apple Inc 111.14 -1.96 -1.73%
Intel Corp 34.40 -1.41 -3.92%
Cisco Systems Inc 27.20 -0.77 -2.75%
Data as of 2:56pm ET

Sections

After a season that included harsh criticism of NFL for not doing enough on domestic violence, Super Bowl will include spot drawing attention to the issue. More

You need a lot less to get into the Top 1% in Arkansas than you do in Connecticut. More

Daniel Kottke's college days in the '70 were pretty prosaic: Pink Floyd, a pastoral campus and hallucinogens. The only thing that was remarkable was his fellow traveler: Steve Jobs. More

On demand delivery startup WunWun is expecting its order volume to double by the time they close up shop on Monday. All thanks to a blizzard. More

CNNMoney/PayScale's top 100 careers with big growth, great pay and satisfying work. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.