Stocks plummeted today in breathtaking fashion as investors reacted to building fears of rising interest rates.

The Dow Jones Industrial Average was down more than 1,500 points briefly Monday afternoon, gaining back some of the precipitous decline before closing at 24,354.60, down 1,175 points, or 4.6 percent

Positive employment news and rising wage statistics last week gave way to more fears that central bankers would raise interest rates to curb inflation. The Fed has said it expects at least three interest rate spikes in 2018 based on improving GDP and wage and employment data.

The Bloomberg Colorado stock index was off 3.2 percent, to close at 486.70. The index includes 63 Colorado-based companies with a minimum of $10 million in market cap. Only 11 companies posted fractional gains in Monday’s trading.

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