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Dow sinks 665 points in biggest drop since Brexit vote

Major U.S. stocks plummeted Friday, with the Dow sinking 665 points, amid signs that strong wage growth may lead to increased interest rates and inflation.

Why it matters: Today was the worst day for stocks since June 2016, after the Brexit vote in Britain. The plunge could signal that the equity markets had overheated after a remarkable 14 months sparked by booming consumer confidence and the promise of a major tax cut after Donald Trump was elected.