Dow plunges 1,200 points, shedding most of midterm results stock rally

The Dow Jones Industrial Average plunged about 1,200 points on Thursday, eroding most of the rally from a day earlier when midterm election results propelled the index to its best trading session in more than a year.

The S&P 500 dropped 3.2%, while the tech-heavy Nasdaq fell 4.8%. The Dow declined 1,220 points, or 2.2%.

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