>> Stocks whipsawed in the final hours of trading Monday, the Dow swinging 900 points from high to low in a matter of minutes. Only to cut the losses in half to end the day with a 245 point drop. The selloff temporarily pushed the Dow and S&P 500 10% from record high hit just weeks ago.
Briefly joining the Nasdaq into what is known as correction territory. Reuters markets and economics editor, Dan Burns.>> The attempt to rally off last week's big sell off really run out of steam in the afternoon. After we got this Bloomberg report that the White House is thinking about December for announcing this $257 billion round of tariffs on China.
We've known the number, we didn't know the timeline, and certainly a lot of investors were not expecting it to be so soon. I mean, that's only just four or five weeks from now.>> But trade is not the only thing swirling around to form a toxic stew for investors.
Boeing was the biggest drag on the Dow, the aerospace giant reeling, not only because it gets roughly 25% of all sales from China. But one of its planes, a relatively new 737 MAX 8 was involved in a Lion Air crash in Indonesia, killing everyone on board. Shares of Boeing suffering their biggest drop in well over two years.
But in a promising sign, the bond market, which usually sees a spike in buying when chaos ensues in stocks was relatively calm. Suggesting panic swings in the stock market isn't spreading fear to the rest of Wall Street.