According to Wall Street Journal, the NYSE closed after a pretty bad performance, Wednesday. A snap of NYSE at closing : S&P 500 closed 2.5% lower at 1890; DJIA went down 2.20% at 16151.41; Nasdaq Composite slipped 3.4% at 4526.06; treasury yields lost value with 10 year bonds falling 0.030 percentage points to 2.070%; Nymex crude oil went up 0.1% at $30.48; Gold was up 0.2% at $ 1,087.50 per ounce; and Wall Street Journal Dollar Index was up 0.06% to 91.11

On Monday S&P 500 ended nearer 1900 but on Wednesday, it was over even before it began proper. S&P hit high in opening and started falling from there. By noon, it worsened with trading hitting a worrying low at 1887 - coming close to the low in August in 2015 at 1867.

According to CNN, Asian markets felt the tremor and dipped after Wall Street's fall. A snap of the Asian markets reflected sharp fall: Japan's Nikkei dipped 2.7% Thursday after plummeting as much as 4.4.%; Hang Seng Index ended 0.6% lower recovering from a fall of 2.1% earlier in the day; Shanghai stock prices Thursday started low but managed to end 2% up.

The fall resulting from rough trading in US markets Wednesday sent Dow, S&P 500 and Nasdaq into correction territory. Correction territory comes into play if and when performance tumbles 10% or more from recent peaks.

Experts lay blame on slump in oil prices, China's slowing economy and its weakening Yuan. Global growth has for years dependent on the booming economy of China. But its slowdown has impacted adversely the global commodities markets.

Price of oil fell Tuesday for the first time in 12 years to below $30 per barrel but managed to gain slight high ground Thursday to end at $30.50. Oil companies like Freeport-McMoran and Morathan performed worst with prices plunging 9% and 7% respectively.

The other factor in issue is the downward slide of China's Yuan against US dollar which has unnerved investors. Although this week's trading was stable experts are asking how much lower would the Yuan go. And how much of China's foreign reserves could it burn through to moderate Yuan's decline.

CNBC meanwhile has reported that South Korea's Kospi ended 16.27 at 1,900.01. And Down Under, the ASX 200 closed down 78.04 points at 4,909.40 with financial and energy sectors sharply down.

This plunge at Wall Street is the second after the mini panic attack last Wednesday. The only difference is that this one has sent the Dow, S&P 500 and Nasdaq to the correction territory.