CNBC News – Dow Jones has dropped about 2,200 points in the past two hours, and the S&P 500 is down a record 1,300 points, with the Nasdaq down nearly a half-million points.
It’s the first time since January that the Dow Jones industrial average has been lower than it was before the worst of the Great Recession hit in late 2009.
The Dow Jones Industrial Average, or J.P. Morgan’s Dow, has shed more than a quarter of a million points in less than a week.
The S&P 500, the benchmark of stocks in the United States, is down nearly 3,000.
Dublin’s stock market has been the biggest performer in Europe since it was reopened in 2015, after a two-decade period of relative obscurity.
The city’s stock markets, in which it has more than 10% ownership, have grown by more than 30% in the past two years, driven by growth in the internet and telecoms sectors.
However, the biggest winners from the new rules were the Irish Water and Irish Water Services companies.
The new rules also gave the government an opportunity to boost its already impressive corporate tax revenue.
The Irish Government has been targeting the city’s wealth by investing billions of euros in its infrastructure, a key area for investors in Dublin.
With the tax cuts, however, the country is poised to return to growth in sectors that had been traditionally seen as being the engine of growth, such as healthcare, tourism and housing.
What you need to know about Dublin’s stocks: What you can invest in Ireland’s stock exchanges