Stocks cratered — here are the 9 big headlines you just missed

sumo slam

(REUTERS/Kyodo)
It was a rough day in the markets.

Stocks got slammed during the day, with the Dow off 1.2%, the S&P 500 off 1.5% and the Nasdaq off 2%.

But that was just the beginning.

Over the course of the day, a bunch of huge economic and business headlines crossed, so we put them all together to make sure you didn't miss a thing:

1. Goldman Sachs shares closed down 4.5%, and Citigroup was off over 5%. Also, a gauge of European banking stocks tanked, and saw its worst streak in weekly declines since 2008.

2. The so-called FANGs (Facebook, Amazon, Netflix, and Google) got crushed, which is notable as they were the best-performing tech stocks in 2015. This follows last Friday's sell-off across the tech sector, as LinkedIn plunged 44% after weak earnings and Tableau Software lost about half its value.

3. Chesapeake shares dropped more than 50% on Monday morning, and have been halted at least four times for volatility after reports the company had hired restructuring lawyers. In a statement on Monday morning the company said it currently has "no plans" to pursue bankruptcy.

4. Gold jumped to $41 an ounce, or about 3.6%, climbing to above $1,200 an ounce.

5. Yelp's earnings leaked ahead of schedule, and the company announced that its CFO was stepping down.

6. Additionally, Yelp posted adjusted ESP of $0.11, below the $0.12 expected, and the company swung to a net loss of $22.2 million, or $0.29 per share in the fourth quarter. Stocks fell by as much as 10% during the trading session and shares were halted for volatility.

7. Deutsche Bank's Joe LaVorgna thinks that March is off the table for an interest rate hike from the Federal Reserve after a recent run of disappointing economic data and stock market volatility.

8. Crude oil is also lower, with WTI falling 3% to move back below $30 per barrel. On a related note, Diamond Offshore Drilling CEO Marc Edwards thinks that the industry is in a "severe and prolonged down cycle."

9. Global stocks have already lost over $6 trillion in 2016, according to a devastating chart shared by Torsten Sløk.

Stick with BI: Markets for updates throughout the day »

NOW WATCH: Why women cheat — and what their husbands can do to prevent it

More From Business Insider

• Ferrari whiffed on earnings and the stock is getting crushed
  

• Michael Kors reported a solid holiday quarter, and its shares are exploding higher
  

• Here's a super quick guide to what traders are talking about right now