Stocks continued their rout, extending yesterday's steep losses as recession fears continued to spread through Wall Street. The Dow finished the day 350 points lower, with bank stocks seeing a notable decline this session. The blue-chip index has now given back over 800 points in the first two trading days of the week. Meanwhile, Wall Street's "fear gauge," the Cboe Volatility Index, is still continuing higher, now up 15% over the last two days. 

The Dow Jones Industrial Average (DJI - 33,596.34) lost 350.8 points or 1% for the day. UnitedHealth (UNH) led the winners with a 0.8% rise, while Walt Disney (DIS) landed at the bottom of the list with a 3.8% loss. 

The S&P 500 Index (SPX - 3,941.26) dropped 57.6 points, or 1.4% for the day, while the Nasdaq Composite Index (IXIC - 11,014.89) shed 225.1 points or 2% for today's session.

Lastly, the Cboe Volatility Index (VIX - 22.17) added 1.4 points or 6.8% for the day.

OIL DROPS TO LOWEST PRICE IN NEARLY A YEAR

Oil prices fell for the third day, landing at their lowest settlement for a front-month contract since Dec. 23, 2021. West Texas Intermediate (WTI) crude for January delivery dropped $2.68, or 3.5%, to settle at $74.25 a barrel. 

Gold prices rose for the day, though still settled below the $1,800 level. February-dated gold added $1.10, or nearly 0.1%, to settle at $1,782.40 per ounce.  

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