Stock market hits largest single day drop - Hometownstations.com-WLIO- Lima, OH News Weather Sports

Stock market hits largest single day drop

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The Dow Jones average took a plunge of 1,175 points. The Dow Jones average took a plunge of 1,175 points.

On Monday the stock market took a historic hit and continued into Tuesday morning for a brief time.

The Dow Jones average took a plunge of 1,175 points. It was the largest single day drop in the stock market's history. Overall it fell 4.6 percent. Ohio Northern University's John Navin said this is all part of normal market movement. He said it was a very large movement, but in the grand scheme of things four percent is not a huge drop off compared to the larger dips we've seen in history. Navin said we can't have continued growth forever and sees this more as a correction.

"It is not time to hit the panic button," Navin, dean of the James F. Dicke College of Business said. "You don't want to get out. It you're a long term investor, you're not going to retire in the next three days or the next six months. Don't move your money because what we've seen, it will come back. The fundamentals of the economy are good right now."

Markets around the world saw significant drops as well. The Dow even fell another 567 points Tuesday morning before returning to a consistent mark.

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