The Dow Sheds 557 Points In Third-Straight Daily Loss. Here's What Drove the Selloff.

Market Overview - The Dow Jones Industrial Average fell by 557 points, or 1.2%, marking its third consecutive daily loss [2] - The S&P 500 and Nasdaq Composite also experienced declines, with the S&P 500 down 0.9% and the Nasdaq down 0.8% [2] - Cryptocurrency markets reflected similar pessimism, with Bitcoin dropping by 2.6% [2] Economic Indicators - Construction spending in the U.S. decreased by 1.6% compared to the previous year, indicating potential negative implications for economic growth [2] - The decline in construction spending may contribute to a risk-off sentiment among investors, although it alone does not fully explain the market selloff [2]