3 Reasons Why The Dow Jones Industrial Average Dropped 500 Points

Global stocks sold off Friday, with the Dow Jones Industrial Average plummeting more than 500 points -- its ninth-biggest point drop ever -- to lose 1,000 points for the week. U.S. stocks closed sharply lower following volatile trading in Asia and Europe after China revealed new evidence of a sharper-than-expected economic slowdown. The sharp losses sent the blue-chip index into correction territory for the first time since 2011.