Tuesday, the Dow dropped 799.36 points (3.10%) to 25,027.07, the NASDAQ plunged 283.09 points (3.80%) to 7,158.43, and the S&P 500 lost 90.30 points (3.24%) to finish at 2,700.07. The Russell 2000 plummeted 68.21 points (4.40%) to 1,480.75, and the Wilshire 5000 fell 971.77 points (3.38%) to 27,796.79.

The price of the 10-year Treasury note increased 17/32, bringing its yield down to 2.910%. The price of the 30-year Treasury bond climbed 1 24/32, decreasing its yield to 3.164%.

ON THIS DATE: In 1766, James Christie, founder of the famous auctioneers, held his first sale in London. In 1776, in Williamsburg, Virginia, at the College of William and Mary the first scholastic fraternity in America, Phi Beta Kappa, was organized. In 1782, the first native U.S. president, Martin Van Buren, was born in Kinderhook, New York. In 1908, at the University of Pittsburgh, numerals were first used on football uniforms worn by college football players. In 1933, prohibition came to an end when Utah became the 36th state to ratify the 21st Amendment to the U.S. Constitution. In 1945, the so-called “Lost Squadron” disappeared. The five U.S. Navy Avenger bombers carrying 14 Navy flyers began a training mission at the Ft. Lauderdale Naval Air Station. They were never heard from again. In 1951, the first push button-controlled garage opened in Washington, D.C. In 1955, the American Federation of Labor and the Congress of Industrial Organizations merged to form the AFL-CIO. In 1978, the American space probe Pioneer Venus I, orbiting Venus, began beaming back its first information and picture of the planet. In 1989, East Germany’s former leaders were placed under house arrest. In 1998, James P. Hoffa became the head of the Teamsters union, 23 years after his father was the head. His father had disappeared and was presumed dead. In 2010, NASA’s Mars Odyssey spacecraft became the longest-operating spacecraft ever sent to Mars. The Odyssey entered orbit around Mars on October 23, 2001.

WEDNESDAY WISDOM: “I know I am getting better at golf because I am hitting fewer spectators.”—Gerald R. Ford