Dow Jones industrials flirt with 1,000 point drop in volatile tr - WKOW 27: Madison, WI Breaking News, Weather and Sports

Dow Jones industrials flirt with 1,000 point drop in volatile trading

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NEW YORK (ABC) -- The Dow Jones industrial average had dropped as much as 1,000 points for a time Monday in volatile trading. The heavy losses deepened a slump that began on Friday as investors worried that creeping signs of higher inflation and interest rates could derail the market's record-setting rally.

Banks are taking some of the biggest losses. Wells Fargo is plunging after the Federal Reserve hit the bank with new sanctions over a scandal that involved opening millions of phony consumer accounts. Bond yields slipped after moving sharply higher Friday.

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