Dow Plummets Nearly 800 Points on Recession Worries

The Dow plummets more than 700 points on recession worries -- a 3% decline. On Wednesday, the Dow Jones Industrial Average fell by 729 points. Fears of a recession are thought to have caused the slide.

Recession fears were caused by reports that the German economy — Europe's strongest — contracted 0.1% in the second quarter. China's economy — the second largest in the world — also showed signs of pressure on growth.

Wednesday's downturn followed a strong Tuesday in reaction to the announcement of delayed U.S. tariffs on some Chinese goods.

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The relief rally inspired by the Trump administration delaying tariffs on some Chinese imports was short-lived, Fiona Cincotta, City Index Senior Market Analyst, according to USA Today.

The Nasdaq also fell more than 3% on Wednesday.

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