The Dow Jones Industrial Average plunges nearly 800 points into correction territory, and international oil prices break through $112.

On March 28, China News Service reported that on Friday Eastern Time, all three major U.S. stock indexes closed down, with the Dow Jones Industrial Average plunging nearly 800 points into correction territory.

Source: Wind

As of the close, the Dow fell 1.73% to 45,166.64 points, the S&P 500 index fell 1.67% to 6,368.85 points, and the Nasdaq fell 2.15% to 20,948.36 points. This week, the Dow fell 0.9%, the S&P 500 index fell 2.12%, and the Nasdaq fell 3.23%.

CNBC reported that the Nasdaq entered correction territory a day earlier, and Friday’s closing price was nearly 13% lower than the record set in October 2025; the Dow plunged into correction territory during Friday’s trading, closing down 10% from recent highs.

Large tech stocks collectively fell, with the Wind U.S. Tech Seven Index dropping 2.54%. In individual stocks, Facebook and Amazon fell nearly 4%, Google, Microsoft, NVIDIA, and Tesla fell over 2%, and Apple fell over 1%.

Bank stocks fell across the board, with JPMorgan Chase down over 3%, Goldman Sachs down over 2%, Citigroup down over 4%, Morgan Stanley down nearly 3%, Bank of America down over 2%, and Wells Fargo down over 2%.

Energy stocks rose collectively, with Exxon Mobil up over 3%, Chevron up over 1%, ConocoPhillips up 0.4%, Schlumberger up over 2%, and Occidental Petroleum up over 1%.

Airline stocks fell across the board, with Boeing down nearly 2%, American Airlines down nearly 4%, Delta Air Lines down over 3%, Southwest Airlines down over 5%, and United Airlines down over 4%.

Chip stocks generally fell, with the Philadelphia Semiconductor Index down 1.69%, ARM down over 6%, Microchip Technology down over 3%, Marvell Technology down over 2%, Broadcom down over 2%, and NXP Semiconductors down over 2%.

Gold stocks rose collectively, with Coeur Mining up over 5%, Kinross Gold up over 4%, Pan American Silver up over 4%, AngloGold Ashanti up over 4%, and Barrick Gold up nearly 3%.

Chinese concept stocks generally fell, with the Nasdaq Golden Dragon China Index down 1.90%, and the Wind Chinese Concept Technology Leaders Index down 1.28%. In individual stocks, Pony.ai fell nearly 6%, Kingsoft Cloud fell over 5%, Hesai Technology fell nearly 5%, NIO fell over 4%, Xpeng Motors fell nearly 4%, Zai Lab rose nearly 3%, and Xinyi Technology rose nearly 1%.

All three major European stock indexes fell, with the UK’s FTSE 100 closing at 9,967.35 points, down 4.82 points from the previous trading day, a decrease of 0.05%; France’s CAC 40 index closed at 7,701.95 points, down 67.36 points from the previous trading day, a decrease of 0.87%; and Germany’s DAX index closed at 22,300.75 points, down 312.22 points from the previous trading day, a decrease of 1.38%.

International oil prices surged on the 27th. As of the close that day, the price of light crude oil futures for May delivery on the New York Mercantile Exchange rose by $5.16 to $99.64 per barrel, a rise of 5.46%; the price of Brent crude oil futures for May delivery rose by $4.56 to $112.57 per barrel, a rise of 4.22%. This marks the highest closing for both benchmarks since July 2022.

The U.S. dollar index rose on the 27th. The dollar index, which measures the dollar against six major currencies, rose 0.26% that day, closing at 100.151 in the foreign exchange market. (China News Service APP)