The stock market dropped again early Tuesday morning, wiping out most of Monday afternoon's recovery, The Washington Post reported.
After an initial slide, however, the Dow Jones Industrial Average began to rebound, and by 10:55 a.m. had almost returned to where it started.
The Dow hit its lowest point of the day so far at around 10:05 a.m., when it was down over 600 points.
According to the Post, "Investors have been spooked by expectations that the Federal Reserve — which begins its two-day policy meeting Tuesday — could tighten monetary policy more aggressively than originally planned to combat decades-high inflation."
Early on, Tuesday morning looked a lot like Monday morning, but it's still possible that Tuesday afternoon will resemble Monday afternoon.
On Monday morning, CNBC reported, the Dow plummeted more than four percent but recovered in the afternoon, closing "up 99.13 points, or 0.3 percent, at 34,364.50."
Monday's hectic trading day was the first following the market's worst week since the pandemic began in March 2020. Last week, the Dow Jones Industrial Average dropped 1,400 points. Tech stocks and cryptocurrencies were hit especially hard.