Dow has worst single-day point fall in history

The stock market freakout of early 2018 isn’t done yet.

Dow futures slumped more than 400 points, or 1.7%, early Tuesday morning, suggesting the turmoil of the past few days can be set to deepen. Earlier inside night, they were down more than 800 points.

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The Dow has already plummeted more than 1,800 points over the previous two trading sessions. Monday was particularly brutal: the index tumbled a record 1,175 points. The 4.6% plunge was the Dow’s worst day since August 2011 in addition to knocked which into the red for the year.

The tremors also spread to the different side of the globe, with stocks in Asia plummeting overnight. Japan’s Nikkei lost more nearly 5%, while stocks in Hong Kong dropped almost 4%.

Related: Asian stocks plunge after bloodbath on Wall Street

After months of unusual calm, fear has raced back onto Wall Street in dramatic fashion. The VIX index of market volatility spiked by a record 116% to the highest level in more than two years on Monday. sy88pgw’s Fear & Greed gauge of market sentiment has gone through “extreme greed” a week ago to “extreme fear.”

The sudden mood shift inside once-euphoric market can be all about the threat of inflation. Worries about inflation first emerged inside bond market. Heavy selling sent the 10-year Treasury yield spiking to a four-year high.

Investors have become concerned which the era of extremely low interest rates which propped up stock prices for years may soon be over. The fear can be which the U.S. economy could overheat, forcing the Federal Reserve to aggressively raise interest rates. which could take a lot of air out of the stock market.

The selling on Wall Street has left the stock market on the verge of a “correction,” which signifies a 10% retreat through a previous high. The Dow can be down 8.5% through its previous closing high, while the S&P 500 can be off by 7.8%. The Nasdaq has tumbled 7.2% through its all-time high.

Related: Market fear can be back in a big way

Despite the heavy selling, the Dow can be still up around 6,000 points since President Trump’s election. although which’s down significantly through the 8,000-point gain which was showing a few weeks ago.

which’s becoming clear stocks ran up too far, too fast inside euphoria over Trump’s tax cuts in addition to the improving economy. The U.S. unemployment rate can be sitting at 17-year lows in addition to global growth has gained momentum.

Market analysts have long been saying the market was overdue for a cooling-down period. The question today can be how far stocks will retreat before investors feel emboldened to start buying again.

sy88pgw (fresh York) First published February 6, 2018: 12:01 AM ET